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Cryptocurrency companies are fleeing the U.S. due to government pressure

According to Ripple CEO Brad Garlinghouse, cryptocompanies are forced to leave the U.S. market because of the repressive policy of the country’s authorities.

Washington should soften the course and create a stimulating environment for the growth of the blockchain sector.

If the U.S. government does not abandon its repressive course, the country will lose investors and developers. In this case, it will not be able to maintain its status as a technological power.

Due to the tightening of regulatory policies, many startups and companies are forced to move to other jurisdictions. Garlinghouse also commented on the lawsuit against Ripple initiated by the Securities and Exchange Commission in 2020.

According to the company’s CEO, the SEC will lose the lawsuit. It will end by mid-2023, and Ripple has a good chance of a successful outcome, the head of the cryptocurrency company stressed.

* Source