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While speaking at the LA Blockchain Summit Live Chris Larsen co-founder and chairman of the country’s most prominent Cryptocurrency firm Ripple, warned the company is close to moving its headquarters overseas to a country that offers a more favorable regulatory climate for Cryptocurrency firms.
“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.”
Chris Larsen co-founder and Chairman Ripple
Ripple like many organizations in the U.S. seems to have grown increasingly frustrated over what it perceives as a hostile attitude towards the Cryptocurrency industry by the federal government, and the Securities and Exchange Commission.
Larsen added, “The US is woefully behind in stepping up to what is going to be the next generation in the global financial system.”
Larsen also acknowledged that while moving Ripple’s headquarters wouldn’t end U.S. jurisdiction over many of its operations, it would be a relief to have another country as Ripple’s chief regulator.
He argued that other countries besides the U.S. have more favorable systems to regulate Crypto, naming the U.K. and Singapore.
Ripple CEO Brad Garlinghouse added in a Tweet.
“Responsible players like Ripple aren’t looking to avoid rules, we just want to operate in a jurisdiction where the rules are clear.”
Strongest internet companies built in the US, in part b/c of regulatory clarity. We have that opp with Blockchain + digital assets. Responsible players like Ripple aren’t looking to avoid rules, we just want to operate in a jurisdiction where the rules are clear. #DCEA of 2020 https://t.co/LqbEDuMXvx
— Brad Garlinghouse (@bgarlinghouse) October 6, 2020
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