- Ripple is expanding its business in London.
- Ripple considers the UK a safe environment for its business.
Ripple Plans to Expand its Business in London Ripple’s General Counsel, Stuart Alderoty, recently tweeted about the company’s plans to expand its business in London. Although Alderoty did not disclose further details about Ripple’s expansion plans, it is possible that the blockchain company is seeking to onboard new partners or open more offices in the region.
Ripple Considers London a Safe Environment for its Business
Unlike the United States, the United Kingdom has clear crypto regulations and does not consider XRP a security. In 2016, Ripple announced that it had opened a new office in London to serve growing bank demand in the region. Ripple CEO, Brad Garlinghouse, disclosed in an interview with CNBC in October 2020 that the company is considering moving its headquarters to London due to regulatory uncertainty in the US.
Missed all the excitement yesterday on the Gensler hearing. I am in London, spending time with our team focused on growing our business. Can't tell you how inept the SEC looks from this side of the pond.
— Stuart Alderoty (@s_alderoty) April 19, 2023
Alderoty Slams SEC
Meanwhile, Alderoty took out time to slam the United States Securities and Exchange Commission (SEC) for being “inept.” His recent tweet has prompted reactions from members of the XRP community, including attorney John Deaton, founder of CryptoLaw and pro-XRP lawyer.
The lawyer representing thousands of XRP investors as amicus curiae in the Ripple v. SEC lawsuit said that Alderoty’s statement shows the SEC is “irrelevant in the global landscape.”
If I’m a U.K. regulator, I’m salivating at the disaster going on in the U.S. and thinking to myself what an opportunity. https://t.co/rGWpXwcBFx
— John E Deaton (@JohnEDeaton1) April 19, 2023
Although Ripple has faced hostility from the US, other regions have been more friendly with the blockchain company. In February, Ripple was mentioned in the Bank of England (BoE) Digital Pound consultation paper. In addition, Ripple’s Director of CBDC Product Management, Anthony Ralphs, was listed as one of the contributors to the Digital Euro Association (DEA) whitepaper.
In conclusion, Ripple is expanding its business in London and considers the UK a safe environment for its business. The company’s recent statement has sparked reactions from the XRP community and highlights the regulatory uncertainty in the US. However, Ripple’s expansion plans in London could bring new opportunities and partnerships for the company.