Ripple CEO says more crypto firms may leave US due to “confusing” rules

Source: CNBC

“‘Confusing’ regulations in the U.S. will push more crypto companies to leave the U.S. as firms like Ripple look to hire and invest outside the country, the CEO of blockchain services company Ripple told CNBC in an exclusive interview. … His comments come after the crypto firm announced Wednesday it had bought Metaco, a Swiss crypto custody services firm, at a time when U.S. regulators are cracking down harshly on companies like Ripple and crypto exchange Coinbase. … Ripple is fighting a lawsuit from the U.S. Securities and Exchange Commission. The SEC has accused Ripple, Garlinghouse and the firm’s co-founder Chris Larsen, of breaching securities laws by selling XRP without first registering it with the SEC. XRP is the native cryptocurrency on the Ripple network.” (05/18/23)