Ripple Labs CEO Brad Garlinghouse said that the company is stopping the publication of quarterly reports on XRP reserves and its activity in the market. The reason – the reports were used by the US Securities and Exchange Commission (SEC) “Against the interests of Ripple”.
According to Brad Garlinghaus, the reports were originally used to increase transparency, but this measure did not bring the expected result. In the future, the company’s reporting system will be reformed, the businessman promised:
“Ripple will continue to share information on XRP assets on its website. Users can familiarize themselves through official online channels without binding to quarterly results. ”
Ripple plans to publish in the future more analytical information against the background of a growing interest in the asset by large investment funds. However, the company intends to disclose data exclusively at the request of large market participants.
In March, SEC withdrew the appeal to the court decision in the Ripple case. The department in December 2020 accused the company of conducting an unregistered ICO and violation of securities laws.
Earlier, Brad Garlinghaus said that the technology of blockchain and cryptocurrencies can significantly improve international payments and the global financial market.
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Source: Cryptocurrency
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