Ripple prepares to leave the US …

Ripple prepares to leave the US …

Ripple XRP REGULATION COULD BE COMING!!! Watch In 24HRS! | Robert Kiyosaki


Ripple prepares to leave US due to aggressive regulation

  • Ripple Labs Considering Moving To UK Or Singapore

  • US jurisdiction will continue to apply to Ripple’s business regardless of the move decision

  • Earlier, Ripple was sued over the sale of XRP tokens

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Fintech startup announced its intention to leave the US jurisdiction due to excessive regulatory requirements for companies operating in the cryptocurrency industry

Ripple Labs, the largest holder of XRP tokens, is considering moving from the United States to another jurisdiction that is more loyal to cryptocurrencies. Ripple Labs Executive Chairman Chris Larsen told Fortune about it..

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Larsen noted that frustration is growing in Ripple due to the “hostility” towards the cryptocurrency industry from the US authorities, and in particular the Securities and Exchange Commission (SEC). According to Larsen, in almost all other countries, the regulatory climate for cryptocurrencies is much more favorable than in the United States..

Now the company is considering the possibility of moving to the UK or Singapore. At the same time, the transfer of the Ripple headquarters from the United States does not mean the termination of state jurisdiction over many Ripple products, the head of the company noted..

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SEC hegemony

Earlier, the editorial staff of BeInCrypto reported that the federal district court of the Southern District of New York in the United States accepted the SEC’s petition for a summary judgment against Kik due to an unregistered ICO worth $ 100 million.

Ripple prepares to leave the US ...

Excessive SEC regulations have repeatedly harmed the natural development of the cryptocurrency market, not only in the United States, but around the world. Suffice it to recall the loud ban on the launch of the Telegram Open Network project, which attracted $ 1.7 billion in investments..

At the same time, the United States lags behind not only in the cryptocurrency market, but with the digitalization of the economy. Sharon Bowen, former Commissioner of the US Commodity Futures Trading Commission, previously said the US is lagging behind other countries that are working to create a central bank digital currency, or CBDC. (CBDC). As of … More. In Europe, meanwhile, they are actively conducting research on the issue of the digital euro.

At the time of writing, XRP / USDT is trading at $ 0.24. During the day, the coin fell in price by more than 4%.

XRP price dynamics per month

Ripple prepares to leave the US ...

Source: CoinMarketCap

Search for the culprit

The XRP token itself still leaves much to be desired. While the entire XRP community accuses Ripple of deliberately dumping the asset’s price, Ripple co-founder Jed McCaleb believes the market is immune to mass liquidations. According to XRPScan, McCaleb himself liquidated more than $ 26 million XRP in the first quarter of 2020.

Against the backdrop of liquidations, the XRP price managed to collapse from $ 0.19 to $ 0.14 and return to $ 0.24.

Plus, Ripple Labs has been mired in high-profile litigation since early 2020. In February, a federal judge in Oakland left unchanged a complaint from several investors at once that Ripple sold tokens to investors that were not registered in the United States as securities. Deceived clients demand to return them the funds that were invested in the project.

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