Garlinghouse: If We Lose The Case, We Will Move To Another Country

Ripple CEO Brad Garlinghouse explained what implications would be if the company lost its lawsuit with the SEC.

Speaking to Axios regarding the SEC case, Ripple CEO Brad Garlinghouse stated that if the company loses the case with the SEC, it could negatively affect the US reputation and power in the cryptocurrency space. Garlinghouse said, "If we lose the case, we will move to another country." Underlining in his statements that the case harmed not only Ripple, but also the USA and the cryptocurrency market, Garlinghouse asked for clearer and transparent crypto regulation rules in a broadcast he participated in. The Ripple company delivered its official response to the court last Thursday, stating that no registration is required because XRP is not a security. Ripple also triumphed last week in a separate lawsuit against Tetragon Financial Group. The asset management firm had asked Ripple to repurchase its shares in 2019, due to the SEC's lawsuit. On the other hand, the fact that the agreement between the parties included a "securities clause" caused Ripple to win the case. XRP is still not considered a security as the lawsuit with the SEC is still ongoing.   "Only the US Says Securities" Reminding that many countries do not count XRP as a security, Garlinghouse said: “The UK, Japan, Switzerland, Singapore… All very clearly acknowledged that XRP is not a security. Anyway, the only country in the world that says this is the USA… That's why I say this is bad, not only for the USA but also for the cryptocurrency universe.”   "I'll Establish the Company Outside the USA " Ripple CEO stated in an unpublished part of the program that he will establish a cryptocurrency company today and will do it outside of the US. Emphasizing his belief that they will win the case once again, Garlinghouse said that in case of any loss, they will try to establish the system again in a country with clearer and clear regulations. When asked why this issue concerns Americans, Garlinghouse answered as follows: “Because this is in the nature of the USA. Interest in the Internet has enabled the country to reap huge profits today. A geopolitical power has been gained. However, it will not be good for the USA if we are not in a leading position in blockchain technology, which is the next generation technology.”