Anyone who has been involved in the cryptocurrency industry and community for a while would be aware of the dispute between Ripple and the U.S SEC. Even now, the agency continues to try and undermine Ripple with its ongoing lawsuit, which mainly revolved around the idea that Brad Garlinghouse was profiting off of unregistered XRP sales and also concerned the security status of the XRP token.
Despite all of that, however, and a lot of back and forth in the lawsuit, which has since seen both sides take victories over the other, Ripple continues to thrive outside of the United States, which has led many to believe that the U.S might not, in fact, be the best place for crypto-based innovation. Even now, the SEC is trying to damage the reputation of Ripple and the crypto industry itself by extension; however, the cryptocurrency community is nothing if not determined and perseverant, and Ripple has thus steadily been expanding its business beyond the borders of the United States as a result.
Ripple Is Flourishing Outside Of The U.S
As per the latest reports concerning Ripple’s representatives, it is really only the business activities that are taking place within the United States that have suffered, like the rest of the operations which have been spread all over the world, are doing just fine. This goes to show that it is primarily the aforementioned SEC that has a problem with Ripple, and the majority of other organizations do not have such issues.
Furthermore, not only has Ripple managed to maintain its business activities across the United States’ borders, but these operations have also thrived as of late. In the past, Ripple had established a presence in Malaysia thanks to a 40% stake in Tranglo, a Malaysian payments firm. More recently, Ripple had established yet another ODL corridor, with this one being from Japan all the way to the Philippines. Moreover, the RippleNet network continues to expand, too, with United Kingdom-based Paydek being one of the more recent companies to be added. Ripple’s ODL technology will also reportedly be used to expand business operations in both Latin America and Africa, with the main goal being centered around payments and remittances.
As of now, Ripple has no plans of surrendering to the SEC and instead intends to secure a total victory against the regulatory agency. Whether this is to be the case or not remains to be seen.
Additionally, many in the cryptocurrency community believe that the SEC’s efforts to undermine the crypto industry have mainly resulted in innovation being forced to occur elsewhere and that the United States risks being left behind while the rest of the world continues to thrive in the digital assets sector.