Ripple CEO Brad Garlinghouse gave more information about the company's "move" from the US, saying the legal status of XRP is key. Speaking to CNBC on Friday, Garlinghouse said the blockchain payment infrastructure company could move to London, where XRP is not viewed as a security by the Financial Conduct Authority . He stated that the firm can evaluate other countries that have a similar attitude.
Ripple uses XRP to move value and aid development in some of its institution-focused payment products and is closely linked to the token. However, while Ripple in the US is entering a legal battle with investors claiming that XRP is an illegally issued security, the Securities and Exchange Commission is not clear on the matter; takes action against some token-based projects.
Ripple CEO: "UK plays a leadership role"
"What is seen in the UK is a clear taxonomy, and the UK's FCA has taken a leadership role in characterizing how we should think about these different entities and their use cases," Garlinghouse told CNBC.
According to Garlinghouse, FCA "made it clear" that XRP is not a security and is used as a currency; It would be more advantageous for Ripple to operate in the UK.
Ripple also sees Switzerland, Singapore, Japan and the United Arab Emirates as potential bases. The report comes after Ripple's manager, Chris Larsen, made similar comments in early October. Larsen suggested that the firm could "quit because of the US hostile attitude towards the cryptocurrency industry