Ripple chief executive officer Brad Garlinghouse said Friday that the company’s business in the Asia-Pacific region has not suffered from the ongoing regulatory issues in the U.S.
Ripple’s Business in Asia and Japan Sees Growth
Ripple is facing a $1.3 billion lawsuit from the U.S. Securities and Exchange Commission (SEC). In December, the SEC charged Ripple, creators of the eponymous XRP cryptocurrency, and its top executives with selling unregistered securities since 2013.
The blockchain payments firm denies the charges, but that has not stopped a number of U.S. crypto exchanges, including Coinbase, from delisting XRP, the world’s seventh most valuable digital asset by market capitalization.
Garlinghouse, who is accused of personally gaining up to $600 million from the unregistered sale of XRP in an ICO offering, told Reuters in a Mar. 5 interview that business in areas like Japan was flourishing.
It (the lawsuit) has hindered activity in the United States, but it has not really impacted what’s going on for us in Asia Pacific. We have been able to continue to grow the business in Asia and Japan because we’ve had regulatory clarity in those markets.
Menu