Crypto Moving Offshore Isn’t Good for America: Ripple CEO Comments

  • The Ripple CEO added that the tendency is not good for American innovation.
  • Garlinghouse also shared his optimistic view on the favorable conclusion of the SEC-Ripple case by the first half of 2023.

Brad Garlinghouse, the CEO of the financial technology company Ripple Labs, in an interview with the television network Bloomberg on March 2, commented that crypto and fintech have already begun moving offshore from America.

Notably, Garlinghouse believes the current tendency isn’t good for America, stating:

I’ve said it before, and I’ll say it again- crypto moving offshore is not good for American innovation. Period, full stop.

Subsequent to the interview, Garlinghouse shared the link to the interview via a Twitter thread on his official account:

Significantly, he referred to the lawsuit against the company filed by the Securities and Exchange Commission (SEC), noting that the latter has declared war against the entire crypto industry.

Further, he added that the SEC’s accusation of Ripple wasn’t exclusively about XRP, but it is directed to the whole industry, “playing offense” and attacking the entire crypto space.

In addition, he told that he is optimistic that Ripple Labs would finally achieve a favorable conclusion to its case with the SEC, by the first half of 2023, quoting:

Judges take however long the judges will take. We’re optimistic that this will certainly be resolved in 2023, and maybe [in] the first half. So we’ll see how it plays out from here. But I feel very good about where we are relative to the law and the facts.

Furthermore, he complained about the way in which the SEC and Gary Gensler consider all cryptocurrencies as securities, which stands as an impediment to the efforts taken by Ripple Labs for a settlement.

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