While many in the cryptocurrency industry have moved away from XRP, SBI Holdings has made it clear that it is still a firm supporter of Ripple, the firm associated with the token.
Currently, the talk of the crypto town seems to be Ripple and its lawsuit from the Securities and Exchange Commission (SEC) for allegedly offering unregistered securities through XRP sales. Amid major exchanges announcing that their platforms will no longer support XRP trading, effective by 2021, SBI Holdings has sustained that it is still in support of Ripple.
A major player in the financial sector, SBI Holdings explained that in Japan, XRP was listed as a cryptocurrency asset, rather than a security. Therefore, securities laws were not applicable to the token. Per Sadakazu Osaki, a lead executive at the Nomura Research Institute:
“XRP is widely traded by crypto asset exchange companies in Japan. Under Japanese law, XRP is a ‘cryptocurrency asset’ and it is not applicable to ‘securities’…