Ripple, as one of the most prominent and regulatory compliant US-based blockchain companies, has threatened to leave the country, following what it sighted as an extremely hostile atmosphere towards the cryptocurrency industry.
Ripple’s Executive Chair Chris Larsen said that despite Ripple’s relentless pursuit of regulatory compliance, new regulations have continuously been frustrating its efforts in a clear message that crypto technology innovations are not welcomed in the US.
Larsen was speaking to Fortune during the LA Blockchain Summit Live Stream, expressing the growing concern for many crypto firms about hostile crypto regulatory frameworks by regulators.
“The message is blockchain and digital currencies are not welcome in the US. You want to be in this business, you probably should be going somewhere else. To be honest with you, we’re even looking at relocating our headquarters to a much friendly jurisdiction.”
Ripple’s CEO Brad Garlinghouse stated that a big part of the reason that tech companies in the US are world-leading is due to clear regulatory guidelines but the courtesy isn’t being extended to crypto firms and innovators.