Ripple CEO Warns Confusing Laws Will Push Crypto Firms To Leave US

Ripple News: As Ripple and Coinbase are leading the legal battle to gain regulatory clarity around virtual digital assets, U.S. Securities and Exchange Commission (SEC) claims that it is a long process. Amid the increasing uncertainty. Ripple CEO speculates that the confusing regulations might be pushing more crypto firms out of the nation ahead.

Also Read: As Ripple Rejoices Court Win US SEC Holds Option To Appeal

SEC Forcing Crypto Firms To Leave U.S.?

Brad Garlinghouse, CEO of Ripple Labs in a recent interaction with CNBC warned of more crypto firms to be leaving the U.S. due to unclear laws. He stated that his firm is actively looking to hire and invest outside the country.

He mentioned that Europe has provided leadership in the area of crypto regulations. While countries like UAE, U.K. and Singapore have been able to provide clarity on how they’ll regulate digital assets. Coingape reported that the Council of the European Union gave the final approval for the Markets in Crypto-Assets (MiCA) legislation.

Garlinghouse highlighted that such approvals allow entrepreneurs and investors to start a constructive talk with regulators. However, this is the specific reason why investment is moving into other jurisdictions and Europe has been a major beneficiary of uncertainty growing in the U.S.

Also Read: Ripple Joins Hong Kong’s Initial e-HKD Pilot Programme

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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