In July, the CEO of the crypto company Ripple, Brad Garlinghouse, announced the need to introduce legislation to regulate digital currencies in the United States.
It is necessary to accelerate the legalization of the blockchain industry in the country. However, the authorities prefer to create barriers that hinder its development.
The main threat comes from the Securities and Exchange Commission (SEC), Garlinghouse emphasized. The repressive policy of the regulator is forcing crypto companies to move to other states.
Ripple Labs co-founder Chris Larsen expressed a similar point of view last week in an interview with Bloomberg.
He emphasized that blockchain companies are moving to London, Singapore and Dubai, and American cities are losing their status as attractive regions for developers of decentralized applications.
Ripple's headquarters are still located in San Francisco. The company hopes that the US authorities will make the right decision and develop a regulatory framework that will not impede the development of the industry.
Ripple employs employees worldwide and has offices in Europe and Asia. However, the company's headquarters will remain in the United States, Larsen noted.
