{"id":74994,"date":"2023-03-03T15:37:59","date_gmt":"2023-03-03T13:37:59","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74994"},"modified":"2025-09-10T02:56:31","modified_gmt":"2025-09-09T23:56:31","slug":"brad-garlinghouse-predicts-crypto-firms-will-leave-the-united-states","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/brad-garlinghouse-predicts-crypto-firms-will-leave-the-united-states\/","title":{"rendered":"Brad Garlinghouse Predicts Crypto Firms Will Leave the United States"},"content":{"rendered":"<p>The lack of clear regulation of the crypto industry in the United States threatens to push companies abroad, which would negatively affect user protection. This view was voiced in an interview with Bloomberg by CEO <a href=\"https:\/\/forklog.com\/en\/news\/what-are-ripple-and-the-cryptocurrency-xrp\">Ripple<\/a> Brad Garlinghouse.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">.<a href=\\\"https:\/\/twitter.com\/kaileyleinz?ref_src=twsrc%5Etfw\\\">@KaileyLeinz<\/a> asked \u201cIf the US doesn\u2019t get its act together\u2026is all of this [crypto] going offshore?\u201d <\/p>\n<p>Me: \u201cIt already is.\u201d <\/p>\n<p>I\u2019ve said it before, and I\u2019ll say it again \u2014 crypto moving offshore is not good for American innovation. Period, full stop. <a href=\\\"https:\/\/t.co\/OWz8uoRHrI\\\">https:\/\/t.co\/OWz8uoRHrI<\/a><\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a href=\\\"https:\/\/twitter.com\/bgarlinghouse\/status\/1631439406845263873?ref_src=twsrc%5Etfw\\\">March 2, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Garlinghouse stressed the importance of enacting clear, well-structured regulation of cryptocurrencies in the United States. In his view, this would spur the growth of the industry.<\/p>\n<p>As an example of the law&#8217;s imperfections, he cited Ripple&#8217;s litigation with the U.S. Securities and Exchange Commission (SEC).<\/p>\n<p>According to him, attempts by the SEC to regulate the industry through enforcement show how far the United States lags behind other countries in building a clear regulatory framework.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cIf [politicians and regulators] in the United States do not come together and act faster, all crypto companies will go offshore. \u2026 This is already happening,\u201d Garlinghouse said.<\/p>\n<\/blockquote>\n<p>According to him, the outflow of crypto industry participants from the country puts users at risk, who are left unprotected against scammers.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201c\u2026as a result, consumers suffer because they lack the protections that U.S. regulatory frameworks can provide,\u201d he says.<\/p>\n<\/blockquote>\n<p>Garlinghouse stressed the need for the United States to catch up with other countries in cryptocurrency regulation, otherwise it risks losing the innovations and the economic benefits of a promising sector. <\/p>\n<p>Earlier <a href=\"https:\/\/forklog.com\/en\/news\/brad-garlinghouse-sees-likelihood-of-sec-dispute-wrapping-up-by-end-2022\">Garlinghouse positively assessed the course of the litigation with the SEC<\/a>, allowing its conclusion by the end of 2022.<\/p>\n<p>Partner at the law firm Davis Polk and former SEC official <a href=\"https:\/\/forklog.com\/en\/news\/former-sec-official-foresees-regulators-defeat-in-ripple-lawsuit\">Joseph Hall said that the Commission had high chances of losing on the merits of the case<\/a>. However, he expressed doubts about a swift end to the proceedings.<\/p>\n<p>In March 2023, Coinbase CEO Brian Armstrong said that <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-chief-urges-us-to-develop-a-clear-rulebook-for-cryptocurrencies\">the United States lags behind<\/a> in drafting cryptocurrency legislation, while the rest of the world is already using digital assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The lack of clear regulation of the crypto industry in the United States threatens to push companies abroad, which would negatively affect user protection. This view was voiced in a Bloomberg interview by Brad Garlinghouse, CEO {{AOPEN_1}}Ripple{{ACLOSE_1}}.<\/p>\n","protected":false},"author":1,"featured_media":74995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1274,1138,36],"class_list":["post-74994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-brad-garlinghouse","tag-opinions","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"46","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74994"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74994\/revisions"}],"predecessor-version":[{"id":74996,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74994\/revisions\/74996"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74995"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}