SEC Leaving Cryptos In An 'Awkward' Place, Ripple Exec Says

By Philip Rosenstein (June 12, 2019, 7:05 PM EDT) -- Ripple's chief technology officer said Wednesday that lack of clarity from the U.S. Securities and Exchange Commission has left the digital payments company in an "awkward situation," as the agency just last week launched a highly anticipated action against Kik.

Rather than provide regulatory clarity in the industry, the SEC has settled into a pattern of regulating through enforcement, Ripple CTO David Schwartz said at the CB Insights Future of Fintech conference in New York. Ripple is a blockchain-based global payments company that launched its own digital tokens, XRP.

Paired with unclear statements on the nature of major cryptocurrencies Bitcoin and...

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