Ripple’s General Counsel Leaves Company

On Friday, Ripple’s spokesperson confirmed that Brynly Llyr, general counsel to the company has retired from the blockchain payments startup.
No reason was stated as to why she had decided to leave. However, the spokesperson ensured that her departure was a “mutual decision” on her end and the firm.
According to her Linkedin profile, Llyr joined Ripple in November 2016 as the General Counsel. Before this, she also worked with eBay and PayPal and currently has her own law practice where she caters to the “needs of technology and FinTech startups focused on corporate structure, IP protection, commercial agreements, product and disclosures, compliance, marketing, user agreements, and strategic legal counseling.”
After 1 year and 11 months with Ripple, the spokesperson has said that they are “grateful” for nearly two years of her service at the company.
“We’re grateful to all that she did to help build an incredible team that will continue the work they’ve been focused on for the past year and beyond. We wish Brynly all the best in her next endeavor and the team here at Ripple looks forward to the next chapter where we will continue to pave the way in this ever-evolving and unchartered industry.”
The news of her departure from the company surfaced in the midst of Rappler gearing up to defend itself from an assortment of class-action lawsuits asserting that the XRP cryptocurrency (mostly owned by Ripple) must be regulated as a security distributed by the company. Speculations now arise as to whether Llyr’s departure will cause an impact to the legal battle. The spokesperson neither confirmed nor denied the said speculations.
However, reports dated a couple of months ago have said that the company has hired a “heavyweight”, Mary Jo White, the former chair of the Securities and Exchange Commission (SEC), that will supervise the case.
Ripple has long maintained its stance that XRP is not a security. On the other hand, the SEC, the agency which decided whether an asset should be regulated as a security by the federal government, has yet to release a public statement regarding the issue. However, several officials from the same agency have stated that Bitcoin and Ethereum-  the only two circulating cryptocurrencies with valuations higher than XRP- should not be categorized as securities by the US government.
Llyr’s departure from Ripple was first reported on Quartz.

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