Chris Larsen warns that Ripple may leave U.S. for a more favorable regulatory environment
October 6, 2020, 6:30PM EDT
1 min read
According to Chris Larsen, co-founder and executive chairman of Ripple Labs, the company is likely to move its headquarters overseas because due to the regulatory stance of the federal government towards the crypto industry.
Larsen made the comments at the LA Blockchain Summit on Tuesday. He argued that almost every country besides the U.S. has a favorable system to regulate crypto, adding that the U.K. and Singapore top the list of likely new locations if the San Francisco-based company indeed decides to leave the U.S.
Ripple has been in an ongoing legal fight with investors who allege that the company violated state and federal securities laws by selling the digital currency XRP. The firm maintains that although it owns a large amount of XRP, the network used to settle XRP transactions is decentralized.
“Purchasing XRP is not an 'investment' in Ripple; there is no common enterprise between Ripple and XRP purchasers; there was no promise that Ripple would help generate profits for XRP holders, and the XRP Ledger is decentralized," the company stated in a September 2019 court filing.
The Block Research was commissioned by Forte to create “Blockchain-Based Gaming: A Primer” which provides a comprehensive introduction to how blockchain technology is being employed in video gaming experiences.
“It’s a global development.” On this episode of The Scoop, 10T Founder and CEO Dan Tapiero joined host Frank Chaparro to discuss his insights into the globalization of crypto markets and how his macro investing strategy has seen his fund 10T pour hundreds of millions into crypto unicorns. To date, Tapiero has already allocated the […]
The U.S. Securities and Exchange Commission is said to be allowing the first Bitcoin futures exchange-traded fund (ETF), per a Bloomberg report. The publication said in a report on Thursday night that the U.S. regulator “isn’t likely to block the products from starting to trade next week,” citing people familiar with the matter. The report […]