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Ripple (XRP) Chief Executive Officer Brad Garlinghouse is drawing attention, revealing that losing a lawsuit against the Securities and Exchange Commission (SEC) could leave the United States.
Currently, Ripple token issuer Ripple Labs is suing $1.3 billion in lawsuits against the SEC over the alleged sale of unregistered securities. Ripple argues that the SEC’s actions are over-regulated, and the SEC continues to claim that XRP is a securities.
CEO Brad Garlinghouse appeared on the documentary news program’Axios on HBO’ on the 8th (local time) and said, “Many countries around the world, including the UK, Japan, Switzerland and Singapore, all have clarity and confidence that XRP is not a securities. “The only thing on the planet is that XRP is classified as a security,” he pointed out.
He said, “This is not only bad for Ripple, but it will work against the overall US cryptocurrency.”
In particular, he confessed in a non-aired interview that “if we establish a new cryptocurrency company today, we will be based outside the United States.”
While he is confident that he will win the lawsuit against the SEC, he stressed, “If you lose the lawsuit, you may leave the United States and move to a country with regulatory clarity and certainty.”
He then criticized that “the lack of leadership related to next-generation technologies such as blockchain will never be good for the United States.”
Earlier last week, Ripple co-founder Chris Larsen told the San Francisco Chronicle that “unlike other companies escaping San Francisco, they will not leave the region.”
“We’re committed to the city,” Chris Larsen told the media. “There’s something that’s decisive: diversity, creativity, and so on.”
Meanwhile, CEO Brad Garlinghouse said in an interview with Reuters on the 5th (local time), “The legal battle with SEC is hindering our activities in the United States, but our business in Asia Pacific has not affected much.”
“We have been able to continue to grow our business because we have regulatory clarity in Asia and Japan. “We have a good relationship with regulators in the region,” he added.