2 November 2024
Ripple Gets Its New Home In Crypto Friendly London
A few days back Ripple was planning to move out from the US over regulations issues. It seems that Ripple has finally found its new home in London. The headquarters of Rippe could be moved to London from San Francisco where its XRP cryptocurrency would not be deemed by regulators as security.
Recently in an interview with CNBC, Ripple CEO Brad Garlinghouse stated that the UK does not consider XRP as security, meaning that "it would be advantageous for Ripple to operate in the UK".
In the US, the US Securities and Exchange Commission stated that bitcoin and ethereum are not securities, the status of XRP is less clear.
Currently, Ripple is in a legal battle with investors who consider it for selling unregistered securities and making misleading statements about XRP. If XRP is considered as security, then it would have to follow strict rules that would impact Ripple, which still owns more than half of all the cryptocurrency.
Garlinghouse states in an interview, that not only UK but Ripple could also move its headquarters to Switzerland, Singapore, Japan, or the United Arab Emirates. He further states, “the US is out of sync with other G20 markets and how some of them think about these regulations.”
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