[ad_1]
Ripple is considering moving to Europe or Asia amid growing frustration over the lack of regulatory clarity in the United States.
Speaking to Fortune Magazine’s Jeff John Roberts at the LA Blockchain Summit on October 6, Ripple co-founder Chris Larsen said the US is “sadly behind” in preparing for the next generation of a cryptocurrency-based global financial system. Along with the US authorities’ policy of “regulation through enforcement,” Ripple may consider leaving the country completely behind.
“The message is blockchain and digital currencies are not welcome in the United States,” Larsen said. “If you want to work in this industry, you should probably go somewhere else. To be honest with you, we are also looking to move our headquarters to a much friendlier jurisdiction. “
Larsen said the company was considering moving to countries like the UK, Switzerland, Singapore or Japan, because in the US “all things blockchain and digital currency start and end” with regulatory bodies like the Securities and Exchange Commission (SEC).
“I don’t think posture at the SEC today can get any worse for [the crypto and blockchain] industry. It’s just ‘crush it and push it away’. ”
Ripple CEO Brad Garlinghouse explained further in a Tweet. “Responsible players like Ripple don’t try to avoid the rules, we just want to operate in a jurisdiction where the rules are clear,” he said. She said.
Ripple faces a series of class action lawsuits alleging that the company sold its XRP token in an unregistered stock offering. The SEC has not released any official statement on this following its 2019 release on a regulatory framework for digital assets.
As a result, the cryptocurrency firm continues to be brought to court in part for an apparent lack of regulatory clarity from the government agency. A federal judge recently denied a Ripple motion to dismiss a lawsuit filed by investor Vladi Zakinov in 2018 claiming that the XRP token is a guarantee under California law.
[ad_2]Source link
