Ripple may move to London due to pressure from US regulators

Ripple Director General Brad Garlinghaus said, that the company can be relocated from the United States to the UK due to clearer regulation of the crypto industry in this jurisdiction.

Ripple is forced to change jurisdiction due to excessive pressure of the commission on valuable US papers and exchanges (SEC). The department considers, that the company violated US securities. The proceedings with the commission have been continuing since May 2018 of the year, When investors filed a lawsuit against Ripple, accusing the company of conducting an unregistered ICO of 2013 year.

SEC considers XRP securities or investment contracts, And the management of Ripple denies this. American regulators do not equate bitcoin and ether with securities, Therefore, Garlinghaus calls for American regulators to clarify his attitude to XRP and other crypto actes. The main reason, according to which the management of Ripple intends to leave the United States - the uncertainty of the legal status of XRP.

Recently, Garlinghaus called the most preferred countries to move Ripple - Japan, Singapac record, Switzerland, Great Britain and the United Arab Emirates. Most Garlinghaus tends to "foggy Albion", since the financial supervision department (FCA) Great Britain uses a clear classification of assets and does not refer to the XRP to the category of securities. Therefore, it will be more advisable for Ripple to register in the UK, since this will help to avoid many problems with regulation.

Earlier, Garlinghaus recommended US regulators to study cryptocurrencies in more detail, since the country is very far behind China in terms of developing its own digital currency.

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