<span style="font-weight: 400">Chris Larsen, co-founder and executive chairman of <a href="https://www.cryptoknowmics.com/news/ripple-labs-files-lawsuit-against-youtube-for-crypto-scams-marketing/">Ripple Labs</a>, is planning to move the business out of the U.S. It is <a href="https://fortune.com/2020/10/06/ripple-leaving-us-america-crypto-regulation-sec-chris-larsen/" target="_blank" rel="nofollow noopener">revealed </a>that Ripple Labs might move its headquarters overseas due to the regulatory difficulties faced by the firm in the crypto industry in the U.S. He is looking for a favorable regulatory environment for his company outside the U.S. These comments were made by Larsen at the LA Blockchain Summit on Tuesday, October 6, 2020. </span>
<h2><b>Larsen Believes Countries Other Than the U.S. Have Better Regulatory Environment</b></h2>
<span style="font-weight: 400">While mentioning his plans</span> of leaving the U.S., Larsen has mentioned that countries other than the U.S. are having a quite favourable system to regulate cryptocurrency. It is also revealed that the UK and Singapore are among the top countries he is considering for their new location. With moving out of the US, the firm is looking to create wealth and huge job opportunities.

<span style="font-weight: 400">Larsen mentioned that in other jurisdictions, “you have the advantage of happening in the capital markets, the regulators, and the innovators all in the same city.'' However, in the U.S., things do not go this way and the regulators, entrepreneurs, and the investors do not understand and agree with each other. </span>
<h2><b>Ripple is Facing a Legal Fight With Investors</b></h2>
<span style="font-weight: 400">Not only the regulatory difficulty Ripple is also facing a legal fight with the investors. The firm has been accused of violating the state and federal securities laws by selling XRP. However, the firm has claimed that the XRP transactions that the firm used to settle are completely decentralized. According to Larsen’s firm, purchasing XRP could not be understood as an investment along with this, the firm has not even promised that it will help the investors to generate profits through XRP. The lawsuit is still going on and the firm is maintaining its stance by claiming that XRP Ledger is completely decentralized.</span>

Chris Larsen Might Leave the U.S. For Favorable Regulatory Environment

Chris Larsen, co-founder and executive chairman of Ripple Labs, is planning to move the business out of the U.S. for a favorable regulatory environment.

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

Chris Larsen Might Leave the U.S. For Favorable Regulatory Environment

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