Ripple Looks For Options In Europe & Asia As the US Lags Behind In Clear Crypto Regulations

  • Ripple Inc. could be leaving the United States, Executive Chairman at the company, Chris Larsen, stated on Tuesday.
  • The digital payments firm is looking for options to relocate, including Singapore, Japan, the U.K, or a friendlier country to crypto as the U.S. struggles with regulation policies in the field.

In an interview with Fortune Magazine’s Jeff John Roberts during the online LA Blockchain Summit on October 6th, Ripple Inc.’s executive chairman and founder, Chris Larsen, spoke of possible relocation. The U.S. to “crypto-friendlier nations.” As one of the largest crypto firms in the country, Ripple feels undone by the lack of regulation or policies in place and is looking at options in Europe and Asia.

Over the past few years, the payments firm has faced increased scrutiny from U.S. government authorities, especially the Securities Exchange Commission (SEC). The securities authority has, in the past, raised claims that XRP is a security claiming Ripple should apply for a securities license – a claim Ripple has vehemently denied.

While the pursuit from the SEC could be welcome, a lack of regulation or laws governing crypto payments or blockchain innovation is key in Ripple’s decision to move from the U.S. Speaking on the issue, Larsen said,

“The message is blockchain, and digital currencies are not welcome in the U.S. You want to be in this business, you probably should be going somewhere else. To be honest with you, we’re even looking at relocating our headquarters to a much more-friendly jurisdiction.”

Larsen also said that while the move from the U.S would not completely overrule jurisdiction from the authorities, Ripple would “feel relief” to have another country be the company’s chief regulator. Circle did just this last year.

The move has raised support from some of the top cryptocurrency influencers, including TechCrunch, Crunch Base, and XRP Capital founder, Michael Arrington, who tweeted the lack of crypto regulation in the U.S. a “disaster.” Supporting the tweet, Ripple CEO, Brad Garlinghouse, wrote,

”Strongest internet companies built in the US, in part b/c of regulatory clarity. We have that opposite with blockchain + digital assets. Responsible players like Ripple aren’t looking to avoid rules; we want to operate in a jurisdiction where the rules are clear.”

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Lujan Odera
Lujan Odera
Lujan is a blockchain technology and cryptocurrency author and editor. He has worked in the field of cryptocurrencies and blockchain technology since 2015 helping him gain enough experience to be the writer he is today. He is known for his simple writing style that allows novices to understand the field in the simplest way.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,271FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today