As the regulatory framework in the cryptocurrency market becomes less friendly and Coinbase’s operating rules are not clear, more and more crypto companies may leave the US, said Ripple’s CEO.
In an interview with CNBC, Brad Garlinghouse specifically mentioned Europe, noting that it attracts US crypto companies as it offers an attractive business environment.
On Wednesday, it was announced that the well-known blockchain services company moved to acquire Swiss startup Metaco as part of its strategic plan to expand its operations abroad, as it expects even more interest from institutional investors in crypto services in the near future.
Metaco produces technology equipment that enables financial institutions to store and manage digital assets. Its client list includes names such as Citi, BNP Paribasand the digital arm of Société Générale.
“Europe is really leading the way. So do countries like the United Arab Emirates. Even the UK or Singapore are clearly providing how they intend to regulate these digital assets,” he said.
He added that when the regulatory framework is clear, the cooperation of crypto market operators with the authorities is more constructive.
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