Ripple Prefers Overseas Talent, Shifts 80% Of Hiring Due To Regulatory Challenges

Ripple XRP/USD is sourcing most of its talent abroad.

That's according to CEO Brad Garlinghouse who revealed Wednesday that the San Francisco-based company plans to conduct 80% of its hiring outside the U.S. due to ongoing regulatory challenges.

Garlinghouse's announcement comes ahead of Benzinga's Future of Digital Assets conference on Nov. 14, where industry leaders will discuss the evolving landscape of digital assets and the challenges and opportunities they present.

In an interview with Bloomberg, the Ripple CEO expressed frustration with the U.S. regulatory environment, particularly with the stance of the Securities and Exchange Commission (SEC) Chair, Gary Gensler.

Garlinghouse criticized the lack of clarity in U.S. regulations, contrasting it with clearer frameworks in regions like Singapore, the U.K., and Dubai.

He emphasized that Ripple is more concerned with the absence of clear guidelines than with strict regulations.

Garlinghouse also touched upon the recent legal victory for Ripple, where a U.S. court ruled in favor of the company, stating that its native token, XRP, is not a security.

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Despite this, the SEC has indicated a potential appeal against the decision.

On the topic of security, Garlinghouse addressed a recent security breach at Fortress Trust, a crypto custodian Ripple is set to acquire.

He clarified that the compromise was due to an end-user issue and not a vulnerability within Fortress Trust.

Ripple has since compensated affected customers.

The CEO further emphasized Ripple's commitment to regulatory compliance and its proactive approach to seeking licenses in regions with clear regulatory frameworks.

Garlinghouse expressed hope for a more defined regulatory environment in the U.S. in the future, allowing for innovation and growth in the crypto sector.

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