The controversial CEO said that he doesn’t trust the regulators in the United States because they have refused to take a firm position about the Ripple and are lagging when it comes to a clear regulatory framework.
He said that “regulation shouldn’t be a guessing game.” He said that they still haven’t decided if cryptocurrencies are commodities or currencies and they certainly have not talked about XRP’s security status. Even when the SEC said that Bitcoin and Ethereum are not cryptocurrencies, they didn’t say anything about Ripple XRP. This is why, according to Garlinghouse, Asian countries are a preferred option to the United States.
According to a survey conducted by Bitmax, Japanese investors prefer XRP to Bitcoin and even Ethereum. The Financial Instruments and Exchange Acts in Japan has released a statement about digital currencies. They noted that all digital currencies are not securities under Japanese law. This was a big step in the right direction and it came a few years after cryptocurrencies were legalized in the country in 2017. It is a legally accepted means of exchange and store of value in the country. So, you can understand why Ripple has such an interest in the country.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Japan Has Shown Key Interest in Ripple and the XRP Token with Leaders Like SBI Holdings Taking Exploring the Token
- Japanese Obsession with Ripple Might Explain Why Japan Will be the Perfect Option if they Choose to Relocate from the United States
Ripple News Today – Last week, in our Ripple news, we noted that the Silicon Valley-based company was considering relocating from the United States to any other country with a clear regulatory framework for blockchain technology and cryptocurrency. The Ripple news noted that removing the headquarters of Ripple from the United States to another country will not automatically cancel all their projects in the country but it might aid adoption a great deal. At the time, there were speculations that the company will be moving to Singapore. Now, the new speculation is that Ripple might move to Japan instead of Singapore.
Ripple News Today – Will Japan be the Breakthrough that Ripple After Relocation
During his recent interview with Bloomberg, Brad Garlinghouse, the CEO of Ripple, said that they are seriously considering a move to Asia. He said that the three places they are currently considering are Japan, Singapore, and Switzerland. He also said that the United Kingdom and the United Arab Emirates are also potential destinations if the company finally decides to leave the United States. In his words;
“The common denominator between all of them countries is that their governments have created clarity about how they would regulate different digital assets, different cryptocurrencies. Japan is one of our fastest-growing markets, in part because we have key partners like SBI. I have spoken to the SBI team about the fact we are looking at.”
