Brad Garlinghaus, CEO of Ripple, said the company could relocate from the U.S. to the UK due to better regulation of the crypto industry in that jurisdiction.Ripple is forced to change jurisdiction due to excessive pressure from the US Securities and Exchange Commission (SEC). The SEC believes the company has violated U.S. securities laws. The SEC proceedings have been ongoing since May 2018, when investors sued Ripple, accusing the company of conducting an unregistered ICO in 2013. The SEC considers XRP to be a security or investment contract, and Ripple's management denies it. U.S. regulators do not equate bitcoin and the airwaves with securities, so Garlinghouse calls on U.S. regulators to clarify their attitude toward XRP and other crypto assets. The main reason why the Ripple leadership intends to leave the U.S. is the uncertainty of the legal status of XRP.Recently, Garlinghouse has named Japan, Singapore, Switzerland, the United Kingdom and the United Arab Emirates as the most preferred countries for Ripple to move. Garlinghouse is most inclined to the "foggy Albion", as the UK's Financial Services Authority (FCA) uses a clear asset classification and does not classify XRP as a security. It would therefore be more appropriate for Ripple to register in the UK, as this would avoid many regulatory problems.Earlier, Garlinghouse recommended that U.S. regulators study cryptov currencies in more detail, as the country lags far behind China in terms of developing its own digital currency.
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