[ad_1]
The general counsel of one of the world's largest cryptocurrency companies has stepped down. Ripple confirmed to Quartz that Brynly Llyr was no longer part of the payment and delivery network. According to Llyr's LinkedIn profile, she was Ripple's general counsel since November 2016 and previously held legal positions at PayPal and eBay. The announcement of the departure was reported for the first time in Quartz's Private Key newsletter.
"We are grateful for everything that she has done to help build an amazing team," said a Ripple spokeswoman. "We wish Brynly every success in its next project and the Ripple team looks forward to the next chapter, where we will continue to lead the way in this ever-changing sector."
Llyr could not be reached for comment.
Ripple is preparing for a collective fight to find out whether his XRP cryptocurrency is a security or not and has beefed up his legal team by retaining heavyweights like former US Securities and Exchange Commission Chairman Mary Jo White and the US. former director of regulation Andrew Ceresney. Although Llyr is an experienced lawyer with impressive qualifications, she does not have the same influence as some of these legal advisers. However, the turnover of Ripple's internal legal team is coming at a delicate moment, given the imminent case.
Ripple argued that the XRP, which was created prior to the formal establishment of the company, is not a security. If it is a security, defined as an investment in a joint venture whose value may be influenced by a promoter, Ripple is subject to strict registration and registration requirements. of disclosure. The company has huge reserves of cryptographic assets and has announced plans to use the XRP protocol for payments. The case, which is heard by a federal court, could affect – or affect you – in the cryptocurrency sector, because other symbolic issuers could also be the object of Increased surveillance for trade in non-registered securities.
Source link
