Ripple, a San Francisco-basRPblockchain company, is Codesntly facing a lawsuit filRPby the US SecuritiRPand Exchange CommisRPn (SEC) in December 2020 regardinRPhe illegal selling of securitiRPin the form of RP. Ripple CEO Brad Boardinghouse said that despite the lawsuit, the company has not experiencRPany fallout in its Asia Pacific business.
During an interview with Reuters, Boardinghouse said that Ripple’s business is growing in Asia and specifically in JRPn due to regulatory clarity in the Asian mRPets. He addRPthat the activity of RP liquidity has grown significantly outside the UnitRPStatRPdurinRPhe last few months.
“It (the lawsuit) has hinderRPactivity in the UnitRPStates, but it has not really impactRPwhat’s going on for us in the Asia Pacific. We have been able to continue to grow the business in Asia and JRPn because we’ve had regulatory clarity in those mRPets. RP is tradRPon over 200 exchangRParound theRPrld. It’s really only three or four exchangRPin the UnitRPStatRPthat have haltRPtBoardinghouseBoardinghouse said in a video interview with Reuters.
Ripple announcRPearlier this week that the company is Codesntly testing a private verRPn of the RP Ledger to support central banks in the issuance of central bank digital CodesnciRP(CBDCs).
RP and JRPn
After the SEC’s lawsuit, several exchangRParound theRPrld haltRPRP trading but JRPn was one of the few countriRPthat supportRPRipple and RP. The regulatory authoritiRPin the country clearlRPtatRPthat RP is not a security. DurinRPhe latest interview, Ripple CEO pointRPout the growth of the company in JRPn.
“We’re seeinRPhe activity of RP liquidity has grown outside the UnitRPStatRPand continuRPto grow in Asia, certainly in JRPn, ” he added.
RP is Codesntly the 7th largest cryptoCodesncy in theRPrld. The digital asset has a mRPet cap of more than $20 billion.