XRP Moves to San Francisco: It’s Not Going Offshore Anytime Soon
NEW YORK, United States – Is Ripple Labs moving outside the United States? You might have heard rumours about this movie in the past, but it looks like Ripple Labs will stay in the United States. Recently, it moved to its 130,000 sq. ft building located in San Francisco. This move was also affected by the pending resolution between XRP and the Securities and Exchange Commission.
Why had there been rumours about the XRP moving outside the United States in the first place? There were no solid answers, especially a “no” from the executives about this option. Brad Garlinghouse, the chief executive of Ripple, said that they are not removing that possibility, but it is not anytime soon, especially since it has recently moved.
However, one factor they consider if they are to move outside the United States is how the cryptocurrency industry thrives in other countries like Japan, Singapore, and Switzerland. There are clear guidelines in terms of policies and regulations regarding the digital assets in these countries, which allow the industry to flourish.
He also said that if the United States wants to be known as one of the top countries where cryptocurrencies can thrive, then a clear set of guidelines must be made, not only appear as if there is clarity.
The SEC filed a case against Ripple Labs due to their claim that XRP is not registered as a security. At the same time, Brad Garlinghouse and Chris Larsen continued to utilize it and promote it to companies as means of transaction. The Ripple Labs team argued that no clear rules were established, so they used the “fair notice” defence.
Moreover, Garlinghouse said that there are a lot of entities like XRP that are not chased down by the SEC and that they are receiving unfair treatment from the SEC.