Brad Garlinghouse says Ripple considers relocating to the UK, Switzerland, Singapore, Japan and the United Arab Emirates
The San Francisco-based firm’s CEO Brad Garlinghouse has given more insight on the company’s possible move away from the U.S., he said the U.K.’s Financial Conduct Authority doesn’t deem the XRP cryptocurrency a security— a key source of contention in its home market.
Ripple CEO Brad Garlinghouse
Talking to CNBC Friday, Brad Garlinghouse said the firm is also considering Switzerland, Singapore, Japan and the United Arab Emirates as potential bases.
The report comes after Ripple’s Executive Chairman Chris Larsen made similar comments early in October, suggesting that the firm could abandon the U.S. over its hostile stance toward the cryptocurrency industry.
$10 billion crypto firm Ripple has been locked in a legal battle with some cryptocurrency investors who accuse it of selling unregistered securities and making misleading statements about XRP. The company disputes the allegations, pushing back on the suggestion XRP qualifies as a security.
Meanwhile, officials at the U.S. SEC have said cryptocurrencies like bitcoin and ethereum are not securities that should be regulated in the same way as stocks and bonds. The status of XRP has been shrouded in uncertainty.
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