Former US Currency Control Office (OCC) Leader Brian Brooks made valuable statements about the Ripple case. Brian Brooks states that the Ripple lawsuit will result in a compromise between the SEC and the company.
Brian Brooks made valuable comments regarding the Ripple case
Kriptokoin.com As we have previously reported, the US Securities and Exchange Board SEC) has officially sued Ripple in the past months. As part of this lawsuit, the SEC accuses Ripple and the company’s CEO, Brad Garlinghouse, and co-founder Chris Larsen of selling $1.3 billion in unregistered securities via XRP.
Former US Currency Control Office (OCC) Leader Brian Brooks made critical statements regarding the Ripple case. According to Brian Brook, the SEC and Ripple will settle under the lawsuit. The former OCC Leader states that under the leadership of US Leader Joe Biden, there will be a positive period towards cryptocurrencies. Brian Brook adds the following to his explanations on the subject:
People who think in parallel with my ideas come to the Joe Biden administration. According to my assumption, Michael Barr will be the leader after me in OCC and Michael Barr is someone who has similar ideas to me… He also served on the Ripple advisory council for a period. However, we see the skeptical statements of Treasury Secretary Yellen. In my opinion, these are not very relevant words. I think it’s about who can keep up with technology and who can’t…
Former OCC Leader: Those with XRP can trade and determine the cost
Brian Brook also adds to the security status of XRP and says:
The most critical point about XRP, in my opinion, is the difference in the middle of an asset’s distribution form and its quality over a certain period. Looking at the situation in Ripple, what happened in the distribution of XRP 10 years ago… At that time, XRP was either a security or it was not. The court will essentially decide on this. Today, whether XRP is a security is a different question… In its previous statements, the SEC was essentially that the nature of assets could change over time.
In the continuation of his statements, Brian Brook states that the Ripple case will result in a compromise between the SEC and the company. In addition, Brian Brook emphasizes that under this agreement, those who hold XRP can trade and determine the price of cryptocurrencies.