Yoshitaka Kitao, President and CEO of SBI Holdings Inc., gave his views on the ongoing debate on whether Ripple (XRP) is a security.
Kitao: “Ripple (XRP) is not a security.”
According to Kitao, XRP is not a security and Japan’s FSA (Financial Services Agency) has already cleared Ripple from this category. Kitao is also optimistic that Ripple will succeed in appealing any case filed by the SEC. In addition, SBI Holdings will continue to be a permanent partner of Ripple as it expands into Asia.
Kitao’s statement about XRP is as follows:
The Japan FSA has already made it clear that XRP is not a security. I am optimistic that Ripple will prevail in the final decision in the US. SBI Holdings remains a committed partner for Ripple and looks forward to expanding together in Asia.
Will Ripple win the case?
In today’s market analysis, Messari’s founder Ryan Selkis also joined the debate over the case against Ripple. According to Mr. Selkis, the US Government will not destroy a local company that will generate tax revenue.
In his final remarks, Selkis was optimistic that Ripple would win the case eventually due to its good legal team. Additionally, Ripple’s acquisition will set new precedents that will drive crypto regulation in the United States.