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Blog

Date:
23rd Oct 2020
Author:
CryptoAltum Research Team

Ripple Considering Japan, Singapore, UAE and Two Others If It Moves From the United States

Brad Garlinghouse, the CEO of the $10 billion for-profit remittance company, Ripple, may end up moving to Japan, Singapore, or three other countries whose cryptocurrency and blockchain regulations are clearer and certain. In an interview with Bloomberg, the executive said crypto laws are fuzzy, a reason which is stifling the growth of the sub-sector by introducing needless uncertainty due to lack of clarity.


Details: 

The cryptocurrency sub-sector, above everything else, needs fitting regulations. It is only through the devising of propping laws that blockchain and crypto as an industry will blossom, concurrently helping the economy grow. The crypto scene in the United States, according to analysts, is in shambles. Policymakers should act fast so that they are leaders in this emerging and highly potent space.


Impact on the XRP Price: 

Neutral. The US SEC, the main regulatory body, hasn’t properly defined and categorized what the XRP coin is. Although there are concerns about its decentralization--a fact that its leaders are working on through an ongoing asset diffusing strategy, Brad complained of being “left out” since regulators are only concentrating on ETH and BTC--two digital assets said to be utilities, not securities.


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