More Crypto Firms to Leave US Amid Regulatory Confusion: Ripple CEO
Crypto Companies Leaving the US
- Brad Garlinghouse, CEO of blockchain company Ripple, believes more crypto firms and businesses will leave the United States due to confusing regulations in the country.
- Regulatory confusion in the U.S. has resulted in crypto entrepreneurs and investments moving to other friendly regions like Europe, UAE, UK and Singapore.
- U.S. SEC is currently cracking down on crypto companies which has further encouraged companies like Ripple to invest more outside of the U.S.
Confusing Regulations in the US
The chief executive officer of blockchain company Ripple, Brad Garlinghouse believes that due to confusing regulations in the United States, more crypto firms and businesses will soon be leaving or at least investing outside of it. This regulatory confusion would push entrepreneurs and investments into other regions with a friendlier stance towards digital assets like Europe, the United Arab Emirates (UAE), the United Kingdom and Singapore.
Europe is already benefiting from this situation as they are providing clarity when it comes to regulating digital assets – allowing founders and investors to engage constructively with watchdogs and authorities there without confusion or difficulty.
SEC Crackdown on Crypto Companies
The Securities and Exchange Commission (SEC) is currently playing a major role in this situation by cracking down on cryptocurrency companies operating within America’s borders – something which has only further encouraged Ripple and other similar companies to invest outside of America instead.