Ripple’s CEO Brad Garlinghouse appeared in an interview with CNN where he spoke on cryptocurrencies and their adoption amid the COVID-19 pandemic. Garlinghouse ‘s response in the interview alerted the XRP community to a possible partnership between Western Union and Ripple. In the interview, he evaded the question on the partnership, while saying Ripple has the policy to talk about their clients when they feel are ready. Partnership Between Ripple and Western Union A certain portion of the XRP community believes that Garlinghouse’s response to remain diplomatic could be part of the strategy. Meanwhile, a certain section of the community has speculated whether the recent sale of Ripple’s shares in MoneyGram is directly related to a potential partnership. One can only speculate what could be the potential outcome. Earlier this year, Credit Suisse had published research that Western Union was looking into the potential use cases of XRP cryptocurrency. Last year, Western Union stated that the firm will move into cryptocurrencies if it acts out as a cheaper alternative. STABLE ACT Proves to Be Not Crypto-Friendly The CEO further highlighted that clarity from the SEC is necessary regarding digital assets: And the clarity emanates from the Securities and Exchange Commission. The SEC said almost 3 years ago that Bitcoin is not a security, two months later they said that Ether is not a security. For us around XRP and with the 100 companies working with XRP, getting that clarity is crucial. It’s very clear to me that XRP is used by many companies as a currency. But we need clarity from the SEC. Garlinghouse also discussed the state of cryptocurrencies in the U.S. He even mentioned that Ripple might consider moving out from the U.S. in recent weeks regarding this. With the recently proposed STABLE ACT, this might cause many crypto firms to move out and shift to crypto-friendly destinations.
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