PlayIconNav
BTC
$67,896.19+2.57%
ETH
$3,264.36+2.43%
BNB
$580.04+1.26%
SOL
$182.88+6.04%
XRP
$0.59993488-0.88%
DOGE
$0.13389939+5.62%
CD20
$2,291.28+3.39%
TON
$6.70+0.99%
ADA
$0.41667594+5.09%
TRX
$0.13759003+1.18%
AVAX
$28.74+5.17%
WBTC
$67,979.39+2.75%
Ad
Finance

Ripple Eyeing Move to London Over XRP-Friendly Stance, CEO Says

It would be "advantageous for Ripple to operate in the U.K.,” said Ripple CEO Brad Garlinghouse.

By Daniel Palmer
AccessTimeIconOct 23, 2020 at 11:31 a.m. UTC
Updated May 9, 2023 at 3:12 a.m. UTC
Ripple CEO Brad Garlinghouse
Ripple CEO Brad Garlinghouse

Ripple CEO Brad Garlinghouse has given more insight on the company's possible move away from the U.S., saying the legal status of the XRP cryptocurrency is key.

  • Talking to CNBC Friday, Garlinghouse said his blockchain payments infrastructure company could potentially move to London, where XRP is not considered a security by the regulating Financial Conduct Authority.
  • The firm may also consider other nations that take a similar stance.
  • Ripple is closely tied to XRP, using the token to move value within some of its institution-focused payments products, as well as helping its development.
  • In the U.S., though, Ripple is fighting a legal battle with investors who claim XRP is an illegally issued security, while the Securities and Exchange Commission has not been clear on the issue and has been taking actions against some token-based projects.
  • “What you see in the U.K. is a clear taxonomy, and the U.K.’s FCA took a leadership role in characterizing how we should think about these different assets and their use cases," Garlinghouse told CNBC.
  • With the FCA "clarifying" that XRP is not a security and is used like currency, it would be "advantageous for Ripple to operate in the U.K.,” he said.
  • Ripple is also considering Switzerland, Singapore, Japan and the United Arab Emirates as potential bases, he added.
  • The report comes after Ripple's Executive Chairman Chris Larsen made similar comments early in October, suggesting the firm could abandon the U.S. over its hostile stance toward the cryptocurrency industry.
VolumeMuteUnmute

XRP Surges 15% on the Back of Triangle Pattern

  • Ripple Was Not Hacked: Here's What Actually Happened
    02:30
    Ripple Was Not Hacked: Here's What Actually Happened
  • Messari CEO Reflects on Senate’s Influence on Crypto Industry
    04:02
    Messari CEO Reflects on Senate’s Influence on Crypto Industry
  • Fake BlackRock XRP Filing Reported to Delaware Department of Justice
    05:01
    Fake BlackRock XRP Filing Reported to Delaware Department of Justice
  • Bogus BlackRock Filing Briefly Sends XRP Higher; Disney to Launch NFT Platform With Dapper Labs
    02:13
    Bogus BlackRock Filing Briefly Sends XRP Higher; Disney to Launch NFT Platform With Dapper Labs

    • Also read: Ripple Has Mixed Success in Motion to Dismiss Lawsuit Alleging Securities Fraud

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.