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Ripple weighs move to London over XRP's security status

Ripple weighs move to London over XRP's security status

Ripple could move its headquarters from San Francisco to London, where its XRP cryptocurrency would not be deemed by regulators as a security.

In an interview with CNBC, Ripple CEO Brad Garlinghouse says that the UK's Financial Conduct Authority has made it clear that it does not consider XRP a security, meaning that "it would be advantageous for Ripple to operate in the UK".

This is because, while the US Securities and Exchange Commission has said that bitcoin and ethereum are not securities, the status of XRP is less clear.

Ripple is in a legal battle with investors who say it is selling unregistered securities and making misleading statements about XRP.

If XRP is labelled a security, it would be subject to strict rules that would impact Ripple, which still owns more than half of all the cryptocurrency.

Garlinghouse tells CNBC that, in addition to the UK, Ripple could move to Switzerland, Singapore, Japan or the United Arab Emirates.

“The US is out of sync with other G20 markets and how some of them think about these regulations,” he says.

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