Ripple will do 80% of its hiring this year outside the U.S. in countries where there is more regulatory clarity, CEO Brad Garlinghouse said in an interview with Bloomberg on Wednesday.
“You see markets like we have here in Singapore, certainly even what we're seeing in Hong Kong, the U.K., Dubai, where the governments are partnering with the industry, and you're seeing leadership, providing clear rules and you're seeing growth, Garlinghouse said. "And frankly, that's why ripple is hiring there, 80% of our hiring this year will be outside the United States.”
Ripple and the U.S. Securities Exchange Commission have been battling it out in court. The SEC has been saying that Ripple has violated securities laws. Though Ripple did garner a partial win on this journey when a U.S. judge ruled in July that the sale of Ripple’s XRP tokens on exchanges and through algorithms did not count as investment contracts. However, the SEC has since tried to appeal this decision.
“Confusion masquerades as power to the SEC, the more confusion the more power they feel they have because they’re just going to keep filing lawsuits,” Garlinghouse said.
The SEC has not just taken Ripple to court but has also filed lawsuits against large crypto exchanges Coinbase and Binance this year.
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