The CEO of Ripple had a fight with a well-known venture capitalist and entrepreneur about whether XRP could be considered a security. Brad Garlinghouse said the company has already spent about $200 million in legal fees during years of litigation with the US Securities and Exchange Commission (SEC). American entrepreneur Jason Calacanis responded by saying that it would make more sense for Ripple to register XRP as a security, in accordance with SEC requirements, and continue to comply with the agency’s rules, as “everyone else” does. Garlinghouse questioned Calacanis’ knowledge of securities laws. The Ripple executive found it embarrassing and
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Author: NixCoin