Ripple Head of Policy Susan Friedman said that regulatory pressures in the US are dragging the crypto industry into Europe.
The crypto industry has been acting under regulatory pressures lately. In particular, the US regulators, the SEC and the CFTC, do not fall off the agenda. The number of crypto organizations making moves against the increasing uncertainty has started to increase.
The opposing stance of the Ripple side continues. Friedman, one of Ripple’s senior executives, stated that there is regulatory chaos in the US and therefore the crypto industry will shift to Europe.
Ripple Head of Policy Scores Regulators
The absence of clear rules or guidelines for the digital asset industry in the US has started to push the key players of the industry to Europe. The European Union has begun to offer clarity on crypto by adopting MiCa regulations.
Ripple, whose lawsuit with the SEC continues, has one eye on Europe. Especially in case of possible loss of lawsuits, it is considered certain that Ripple will leave the USA.
Ripple Head of Policy Friedman said that the regulatory environment in the US has become almost paralyzed and dragged crypto players in the country to Europe.
According to Friedman, the shift of innovation to other countries is not an exaggeration. Friedman says the industry will do better where the rules are clear.
Also, another issue that the Ripple executive touched on was employment in the USA. Friedman said that the withdrawal of crypto from the US will have a remarkable impact on business and investment.
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