The CEO thinks his company will do well, even in this hypothetical scenario.

Ripple CEO Brad Garlinghouse believes his company can still thrive in a hypothetical scenario where US lawmakers declare XRP as a security.

• XRP price rises to $ 0.90, and drops in seconds when a service failure occurs on Coinbase

In an  appearance  on Episode 439 of the Anthony Pompliano Podcast, Garlinghouse discussed the consequences of XRP being declared a security by the United States Securities and Exchange Commission, or SEC for its acronym in English. He said such a position would go against the prevailing opinion in the G20 markets.

While acknowledging that "it is very difficult to see XRP as a security," Garlinghouse said :

“You know, if XRP was considered a security here in the United States, you know, we have other G20 markets that have taken a different stance. I don't know of any market globally that thinks XRP is a security. "

• XRP price surged 91% in a month thanks to 3 fundamental factors

Garlinghouse added that "more than 90% of RippleNet's clients are outside the United States," suggesting that being categorized as a security would not necessarily hamper the company's underlying business.

If XRP was declared a security in the United States, investors (including Ripple) would have to complete the registration of brokers and securities dealers with the SEC.

XRP's regulatory status has come under intense scrutiny in recent years, with veteran trader Peter Brandt being the latest public figure to declare it a security .

• Ripple's Brad Garlinghouse Wants Bitcoin To Succeed After All

On the opposite end of the spectrum, Congressman Tom Emmer, R-Minnesota, said in August that XRP was not a security .

Ripple has been the subject of a class action lawsuit from disgruntled investors who claim that XRP is a security. The lawsuit alleges misleading advertising and anti-competitive practices against Ripple. An amended lawsuit in March claimed that Garlinghouse was buying XRP from potential investors while simultaneously liquidating their holdings.

• Compound liquidator made $ 4 million after oracles inflated DAI price

XRP was back in the spotlight this month after an explosive rally that pushed the cryptocurrency above a multi-year range . It was the subject of a sharp earnings withdrawal on Thursday, falling more than 28%.

Keep reading:

• XRP price rises to $ 0.90, and drops in seconds when a service failure occurs on Coinbase
• XRP price surged 91% in a month thanks to 3 fundamental factors
• Ripple's Brad Garlinghouse Wants Bitcoin To Succeed After All
• Compound liquidator made $ 4 million after oracles inflated DAI price
• First Ransomware Attack in 2020 Election Hits Georgia Election Infrastructure
• Hester "Crypto Mom" ​​Peirce Says SEC's Conservative Approach to Cryptocurrencies Must Change
• SEC Crypto Queen Peirce Believes US Capital Markets Can "Transform People's Lives"