Ripple is currently evaluating its options for relocating its business outside the United States in response to the ongoing legal battle with the SEC, taking cues from Coinbase’s recent actions.
Ripple’s international policy adviser, Susan Friedman, has expressed a favorable view of the European Union’s adoption of the law on the regulation of cryptocurrencies (MiCA) and indicated the company’s readiness to explore growth opportunities in the European market.
In the past, Ripple CEO Brad Garlinghouse has suggested that the company could move to a jurisdiction with a more favorable regulatory environment for the crypto industry if it loses the ongoing legal battle with the SEC.
Despite not confirming or denying rumors about a possible jurisdictional change, Ripple has advertised 46 new vacancies outside the US and only six within the country.
This suggests that the company may be preparing for a move abroad.
Additionally, Coinbase has announced the launch of a new offshore exchange platform and obtained a class F license under the Digital Asset Business Act from the Bermuda Monetary Authority, signaling a possible trend of cryptocurrency companies seeking out more crypto-friendly jurisdictions.