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Ripple may be in the process of leaving the United States market for good as the prominent crypto firm has stated that it will be acquiring the majority of its employee candidates from countries outside the US.\u00a0<\/span><\/p>\n US-based cryptocurrency solutions provider, Ripple has enacted plans to conduct its hiring processes outside US borders. The cryptocurrency firm has stated that over 80% of its workforce will be recruited from countries outside the US that encourage crypto adoption and innovation.<\/span><\/p>\n The decision to hire the majority of its workforce internationally can be seen as a strategic move to counteract the effects brought about by the regulatory changes enacted by the United States Securities and Exchange Commission (SEC).<\/span><\/p>\n In light of the <\/span>legal dispute<\/span><\/a> between Ripple and the US SEC, the Chief Executive Officer of Ripple, Brad Garlinghouse expressed his enthusiasm about the crypto firm\u2019s expansion in new regions. He stated that the firm will be focusing on hiring candidates in regions like Singapore, Hong Kong, and Dubai which have favorable outlooks and regulatory conditions on cryptocurrency.\u00a0<\/span><\/p>\n \u201cIt\u2019s super frustrating that you see markets like we have here in Singapore, where governments are partnering with the industry, providing clear rules, and you\u2019re seeing growth. That\u2019s why Ripple is hiring there,\u201d Garlinghouse stated in an interview with <\/span>Bloomberg<\/span><\/a>.\u00a0<\/span><\/p>\n Presently, the United States does not have a clear regulatory framework for cryptocurrency assets, and the US Congress has also been relatively slow in clarifying the status of cryptocurrencies.<\/span><\/p>\n<\/p>\n Ripple has been embroiled in a <\/span>lawsuit<\/span><\/a> with the US SEC since 2020. The SEC had previously sued Ripple for allegedly raising over $1 billion in unregistered securities offerings by selling XRP.\u00a0<\/span><\/p>\n In July 2023, Ripple secured a <\/span>victory<\/span><\/a> after Judge Analisa Torres ruled in favor of Ripple and stated that XRP was not a security. The SEC responded by filing an <\/span>interlocutory appeal<\/span><\/a>, however, it is unsure if Judge Torres will grant the SEC\u2019s request.<\/span><\/p>\nRipple Will Recruit A Workforce Overseas<\/h2>\n
XRP prices maps recovery above $0.48 | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
SEC Lawsuit Developments<\/h2>\n