Ripple CEO: Asia expansion has not been affected by the SEC lawsuit

Although Ripple is working with the U.S. Securities and Exchange Commission (SEC) Is caught in a US$1.3 billion lawsuit, but Ripple’s business seems to remain business as usual.

Last Friday, Garlinghouse revealed in an interview with Reuters that in the current SEC lawsuit, Ripple’s business activities in the Asia-Pacific region are not affected by any negative effects:

“It (lawsuit) hindered Ripple’s activities in the United States, but it did not really affect what we are doing in the Asia-Pacific region.

In December 2020, the SEC accused Ripple and its chief executives of selling since 2013XRPViolated securities laws when tokens.

Garlinghouse attributed no bad effects to Ripple’s good reputation among regulators in the Asia-Pacific region. He said: “The reason why Ripple can continue to expand its business in Asia and Japan is because of our transparent supervision in these markets.”

In fact, Japan and other Asia-Pacific countries have always supported Ripple and XRP. Ripple even formed a joint venture SBI Ripple with Japanese conglomerate SBI Holdings. This joint venture is the core of many projects that aim to create a Ripple-based payment channel in Asia.

In March 2020, the blockchain payment company further expanded to Southeast Asia and established a cooperative relationship with Thai financial technology company DeeMoney.

Garlinghouse also downplayed the impact of delisting XRP or suspending XRP trading on US exchanges . According to the CEO of Ripple, there are more than 200 platforms listing XRP trading pairs around the world.

In addition to U.S. crypto exchanges, Bitwise andGrayscaleAnd other asset management companies and encryption Monetary Fund also liquidated XRP they hold.

In December last year, the CEO of Ripple revealed that only 5% of Ripple’s customers were registered in the United States. Garlinghouse even said before that if the regulatory environment cannot be improved, the company will consider leaving the United States.

At the same time, Chris Larsen, the executive chairman of Garlinghouse and Ripple, has separately proposed motions to dismiss the case. Lawyers for executives of the two companies said that the Ministry of Finance’s Financial Crime Enforcement Network had previously classified XRP as a virtual currency.

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