Again and again trouble with the USA. In the past, the San Francisco-based company around CEO Brad Garlinghouse and CTO David Schwartz was repeatedly confronted with the American authorities. Despite intensive lobbying, the regulatory environment does not look positive for Ripple, so the company is considering relocating.
Garlinghouse now said that Ripple could move its headquarters to Japan or Singapore.
Is Ripple about to relocate?
In a recent Bloomberg interview, CEO Garlinghouse said that in addition to Japan and Singapore, Switzerland, the UK and the United Arab Emirates are on the list of potential new locations. He cites clear legislation for business activities in the crypto sector as the reason for this.
Garlinghouse stresses the regulatory uncertainty in the USA.
The United States has different opinions on whether crypto-currencies are a commodity, a currency or a security.
Legal dispute with investors in the USA
As a reminder, Ripple is in ongoing litigation with investors who claim that the company violated state and federal securities laws by selling XRP.
The company's presentation, however, is different. For example, while Ripple admits that it owns a large amount of XRP, it vehemently emphasizes that the network used to process XRP transactions, namely the XRP Ledger, is decentralized.
Of course, such forms of litigation are not conducive to the development of one's own business. Since Ripple already has an active presence in Japan (keyword: SBI), a move to the East Asian Pacific state is definitely an option.
Japan is one of our fastest growing markets. This was also because we have important partners like SBI there.
Garlinghouse also said that he had already informed the SBI team that Japan was being considered as a potential new location.
