The United States’ confusing crypto regulations have forced firms like Ripple to consider investing outside the country, and Europe has been a “significant beneficiary” of this confusion, Brad Garlinghouse has said. The Ripple CEO suggested that the United States needs to emulate countries like the United Kingdom and Singapore which have clarified how they want to regulate crypto.
Crypto Firms Seek to Limit Exposure to US Clients and Companies
According to Brad Garlinghouse, the CEO of the blockchain firm Ripple, Europe has been “a significant beneficiary” of the confusion in the United States’ crypto industry sparked by the Securities and Exchange Commission (SEC). The confusion has in turn forced crypto firms to invest outside the U.S.
In an interview with CNBC, Garlinghouse, whose firm acquired Swiss crypto startup Metaco on May 17, warned that the SEC’s crackdown means his company will attempt to limit its dealings with U.S. companies and citizens.
“[The SEC crackdo
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