Sunday, May 19, 2024
HomeLaw & PoliticsRipple's CEO denies the XRP-SWIFT ambiguity, responding to the SEC's criticism

Ripple’s CEO denies the XRP-SWIFT ambiguity, responding to the SEC’s criticism

Ripple (XRP) has been in the news recently as a result of its ongoing legal battle with the Securities and Exchange Commission (SEC). The former has just filed an appeal to the DPP verdict, claiming that the SEC is simply seeking a “do-over.”

Meanwhile, the West has intensified its targeted sanctions against Russia, with the goal of preventing Russian banks from using the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the worldwide financial communications network. The current wave of sanctions on Russia, issued by the US, EU, UK, and Canada, resulted in the country’s expulsion from SWIFT, thereby “paralysing” the central bank’s assets.

With many predicting that more Russians will resort to crypto in the wake of the Ruble-Bitcoin (RUB/BTC) volume reaching a 9-month-high, Ripple’s CEO Brad Garlinghouse explored the realities of XRP, crypto, and blockchain’s role in avoiding international sanctions.

As a result, Ripple maintains an unwavering commitment to the rule of law, both in relation to the SEC action and the ongoing sanctions against Russia.

It’s a wrap for this story.

Kunal Krishan
Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.


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