For the past months, the crypto firm Ripple has been battling with the Securities and Exchange Commission in court on the allegation that Ripple conducted illegal securities offering through XRP sales.
However, Brad Garlinghouse while addressing the collision conference last week disclosed Ripple’s intention regarding the outcome of its case with the SEC, he, however, notified the Axios that if the crypto firm (Ripple) lost the XRP case against the SEC, the firm would relocate to outside the United States. He further affirmed that “it’s not that we could, we will.”
In a report, quite a lot of businesses have been relocating to Miami due to its friendly policy, Ripple also opened its Canadian office not long ago.
Furthermore, Ripple vs SEC lawsuit results will of course affect the entire crypto industry, as Ripple’s defeat may result in many companies exiting the country.
Also, Ripple’s lawsuit with the SEC has been hampering the growth of the firm’s native token (XRP), in fact, many US cryptocurrency exchanges have delisted XRP due to the lawsuit, following Garlinghouse’s announcement of Ripple’s intention as per the outcome of the lawsuit, XRP immediately saw a 14% increase while its 24 hours rise amounted to 65%.
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Ripple’s Lawsuit Outcome Will Impact Crypto Industry
According to analysts’ reports, Ripple winning its case against SEC will actually boost the growth of the company and also position them in a status that other companies will want to collaborate and also work with.
On the other hand, if the firm is defeated in court by SEC, it will have no option but to look outside the United States.
The firm went ahead to say that shifting its focus to outside the United States will have a drastic effect on the firm due to the US being the country in the world with the largest economy. Ripple CEO meanwhile stated that the firm would consider going public after its case with the SEC.
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