Ripple IPO a possibility after SEC proceedings

CEO is skeptical of XRP's acceptance in the US
  • Brad Garlinghouse, CEO of Ripple Labs, wants to get over with the SEC lawsuit and concentrate on the company’s IPO plans
  • The hearing will impact the existence of other cryptocurrencies as well who do not abide by laws and regulations
  • Ripple has been alleged that it dealt in unregulated dealings in virtual currency and that they broke the securities protocol

It should not come as a shock that Ripple Labs is being sued by the US Securities and Exchange Commission for selling virtual currencies and dealing in unregistered securities. Several regulations have shook the crypto space over the past two weeks, while the current proceedings will give shape to XRP’s existence in the country. Moreover, Ripple plans to launch its IPO after the conclusion of the lawsuit and have a better market share in the US. 

XRP is a security in the States

Unlike other countries, XRP is not considered as a virtual currency in the US. Ripple has emphasized the importance of disclosing the criteria under which a currency will be deemed as a security. The protocols are still unclear and the SEC will soon come up with the norms as ordered by the court. Cryptocurrency regulation was not up to the mark in the country according to experts. 

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Hence, the implementation of various rules and regulations need to be fastened up and the Ripple lawsuit to meet its end at the earliest. The result of the lawsuit will have a massive effect not only on Ripple and XRP but also the existence of other cryptocurrencies within the boundaries of the country. 

Lawsuit result to shape Ripple’s IPO timing

CEO Brad Garlinghouse stated that the company is eagerly waiting for the lawsuit to end and decide the course of its IPO. The listing of Coinbase on the US Exchange has been a huge milestone according to the CEO. Furthermore, he plans to improve payment efficiency via XRP and help regulators view it as a currency and not otherwise. 

The company agreed that the lawsuit decreased the number and speed of contracts currently. The possibility of an IPO will also be discussed in the upcoming meetings to help investors increase their wealth. Lastly, the company assured that the supply of XRP will not cross 100 billion. Experts feel that the supply is lower than the said amount due to burning of transaction fees and its nature of a deflationary asset. 

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Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

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