Ripple is experiencing one of the most difficult times, especially after the SEC filed a lawsuit for an unregistered $ 1.3 billion securities offering in XRP late December.
However, according to the latest information from CEO Brad Garlinghouse, it is more than clear that this lawsuit, which is being conducted by this independent agency of the United States federal government hinders activities only in this territory.
Brad Garlinghouse said in an interview with Reuters today that Ripple in Asia-Pacific is still growing.
It (the lawsuit) has hindered activity in the United States, but it has not really impacted what’s going on for us in Asia Pacific,
We have been able to continue to grow the business in Asia and Japan because we’ve had regulatory clarity in those markets,
The CEO of Ripple also added that he did not know of any other exchange that would stop trading in XRP only about those operating in the US.
XRP is traded on over 200 exchanges around the world. It’s really only three or four exchanges in the United States that have halted trading,
This situation is clear evidence that the regulatory frameworks for cryptocurrencies in different parts of the world are not uniform and therefore it is not surprising that blockchain companies move many times to countries with a friendly environment.
Let us also recall a statement from Executive Chairman Chris Larsen from a time when Ripple was not facing lawsuit yet, who said that almost every country has a more favorable regulatory environment for cryptocurrencies than the United States.
However, Gary Gensler, who has been nominated by new President J. Biden and currently leads the SEC, has recently promised to provide guidance and clarity for the cryptocurrency market soon.
Read also: The idea that Netflix is investing in Bitcoin has caused tension and may start a second bull run