After the securities lawsuit filed against Ripple, bad news began to come one after the other for XRP. After the bad news of major cryptocurrency exchanges and platforms, good news appeared today. Uphold, the financial services platform that provides brokerage services for trading all types of currencies or commodities, has made a clear statement for XRP.
Substantial Support From Uphold CEO
Uphold CEO JP Thieriot is actually a name that XRP investors know intimately. The famous CEO praised XRP in a statement in 2019. Thieriot stated that users on the platform preferred XRP the most among cryptocurrencies and were right to do so. After XRP, DASH and BAT cryptocurrencies came, the CEO said, and now they will not give up support for XRP.
Thieriot said in an 8-tweet statement that they will continue XRP operations until a clear decision is made. The SEC has a duty to protect consumers from malicious people, Thieriot said, but punishing a few people in the current situation could result in harming millions of XRP investors.
SEC hasn’t acted in 7 years
The CEO, who stated that the SEC has not taken action on XRP for almost 7 years, in fact implied that a large part of investors understand this inaction indirectly in the form of confirmation that XRP is not a securities. ” We work in the most exciting industry today, ” the CEO said, likening it to the Internet. Thieriot hinted at the need for clarity on regulations, stating that there would be innovations in such an innovative sector in the continuation of his statement.
“We will continue to list XRP”
The SEC’s move risks “harming participants in similar projects,” The Uphold manager said. The CEO stressed that they will continue to list XRP until a clear decision is made by the court in this regard. It was also added that if XRP was stated to be a securities or its trading volume evaporated completely, XRP support would end here.