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Ripple Exec Says Business Is "Thriving"

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Tue, 10/10/2023 - 20:33
Ripple Exec Says Business Is "Thriving"
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Despite ongoing regulatory challenges in the U.S., Ripple's business operations continue to prosper, according to the company's Chief Business Officer (CBO) Eric van Miltenburg. In a recent interview with Coindesk, van Miltenburg stressed the resilient nature of Ripple's global operations and its strategic approach amidst an uncertain U.S. regulatory landscape.

"I think that there's still a long way to go in the U.S. when it comes to regulatory clarity. But, frankly, Ripple's business has been thriving regardless. In some ways, we've been operating even as if we've lost the suit, which of course we didn't," he said. 

Ripple's overseas hiring intensifies 

Last month, Ripple's CEO Brad Garlinghouse unveiled a strategic move, revealing plans to center 80% of the company's hiring initiatives outside the United States for the current year. 

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This decision, influenced by a continuing legal dispute with the U.S. Securities and Exchange Commission (SEC), is seen as a pivot towards markets like Singapore, Hong Kong, the U.K., and Dubai. 

A call for regulatory clarity 

The legal battle between Ripple and the SEC remains a significant focus for the crypto industry. The court recently has denied the SEC's motion for an interlocutory appeal. 

Judge Analisa Torres, while elaborating on the decision, spotlighted the SEC's inability to present a clear question warranting the appeal. However, industry experts posit that this case is far from its conclusion. 

Despite Ripple's win against the SEC, the cryptocurrency industry is still far from achieving regulatory clarity. 

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