Ripple chief Brad Garlinghouse reportedly says that the firm will leave the country if the U.S. Securities and Exchange Commission (SEC) wins its lawsuit against them.
According to a new report from Axios, Garlinghouse says that the company will cease to operate in the US if they lose the lawsuit that the SEC filed against the firm in late 2020 for allegedly issuing XRP as an unregistered security.
Says Garlinghouse,
“It’s not that we could, we will.”
The CEO reportedly said that should the San Francisco-based company leave the US, it would more or less do what it’s already been doing since the lawsuit began.
“If you think about how the world is operating right now, it’s as if the case has been lost other than a few other exceptions… So if we lose, if Ripple loses the case, does anything change?”
Garlinghouse’s remarks come after Ripple, who previously stated that most of its growth has come from outside of the US, opened up an office in Toronto, Canada.
Recently, Garlinghouse said that the SEC contradicted itself when it approved Coinbase’s S-1 initial public offering (IPO), less than a year after filing its lawsuit against Ripple.
“When Coinbase went public, which really wasn’t that long ago, Coinbase was trading XRP. They enabled consumers and businesses to trade XRP. The SEC had to approve their S-1 such that Coinbase could go public.
The SEC now seems to take the position when they sued us that, ‘Hey, XRP is a security and always has been.’ But they approved Coinbase going public, even though Coinbase is not a registered broker-dealer.
So there are contradictions here of the SEC almost not, within its own organization, knowing left hand, right hand.”
XRP is changing hands at $0.36 at time of writing, a 1.5% increase on the day.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/diversepixel/Tun_Thanakorn
The post Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report appeared first on The Daily Hodl.
