Ripple CTO: All the Evidence Suggests XRP and Bitcoin Are Similar, Contrary to SEC

By CoinDesk4 days ago


The chief technology officer (CTO) of Ripple, David Schwartz, said on CoinDesk TV that all the evidence suggests bitcoin and XRP are similar despite allegations XRP is being sold illegally as a security.

Speaking during First Mover on Wednesday, Schwartz said: The market considers them similar. We consider them similar.

Ripple is in the midst of defending itself against a U.S. Securities and Exchange Commission (SEC) action alleging the company and two of its executives violated U.S. securities laws in selling XRP to retail consumers.The SEC action came out of nowhere, said Schwartz, who said XRP and cryptocurrencies like bitcoin are completely different.

Related: State Street Aims to Start Cryptocurrency Trading in the Middle of 2021

Read more: Ripple Granted Access to SEC Documents on Bitcoin, Ether in Ongoing XRP Fight

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