Ripple Lab’s top lawyer says that the company is essentially operating outside of the US due to the lawsuit by the U.S. Securities and Exchange Commission (SEC).
According to a recent report by CNBC, Ripple General Counsel Stuart Alderoty says that even though most Ripple employees are based in the US, most of its customers have been driven to other nations because of the regulatory agency’s case against the payments platform.
The SEC alleges that Ripple Labs sold XRP as an unregistered security.
“Essentially, [Ripple] customers and [the firm’s] revenue are all driven outside of the US, even though we still have a lot of employees inside of the US.”
As for the SEC’s lawsuit against Ripple, Alderoty says that he expects the judge to