Ripple CTO: XRP Has No Issuer — Clarifies Clawback Role
Ripple CTO David Schwartz responded on X on Nov. 14, 2025, addressing questions about the XRP Ledger's clawback capability and stressing that XRP does not have an issuer. His answer sought to separate the ledger's configurable features from the notion of a single issuing authority, pushing back on a common framing that ties clawback mechanics to centralized control.
The clarification matters because debates over issuance and control influence regulatory interpretation, exchange custody policies, and institutional appetite for XRP. While clawback options can exist for specific account settings or smart-contract arrangements, Schwartz's statement emphasizes ledger design and governance distinctions that may affect how regulators and custodians assess XRP's status. Market participants should still review technical details and policy frameworks, but the CTO's comment helps refocus discussions on decentralization and network-level responsibilities.