SEC Case Had ‘Almost No Impact’ on Ripple’s Talks With Central Banks, Says Exec

By coindesk.com July 29, 2023 In Banks, Cryptocurrencies, Ripple

James Wallis also said the decision that Ripple’s sale of XRP did not constitute investment contracts was a major victory, not just for Ripple but also for the industry.

Updated Jul 28, 2023 at 4:15 p.m. UTC

Ripple vice president of central bank engagements and CBDCs James Wallis joins “First Mover” to discuss his insights into the country of Palau leveraging Ripple’s CBDC platform and starting a stablecoin trial on the XRP Ledger. Wallis also weighs in on Ripple Labs scoring a partial win against the SEC earlier this month after a judge ruled the sale of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts.

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Ripple’s long legal saga with the U.S. Securities and Exchange Commission (SEC) had “almost no impact” on its conversations with central banks, the firm’s vice president of central bank engagements told CoinDesk TV on Friday.

James Wallis also said the decision that Ripple’s sale of XRP did not constitute investment contracts was a major victory, not just for Ripple but also for the industry as a whole.

The legal fight which had been going on since 2020, however, had not had any detrimental effect on Ripple’s ability to get conversations and projects going with central banks.

“We’ve had no countries say we don’t want to talk to you because of it,” Wallis said.

The most recent such project saw Ripple collaborate with the Pacific country of Palau on a U.S. dollar-pegged stablecoin (PSC) which runs on the XRP Ledger.

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