Garlinghouse: Ripple will emigrate from the US if the company loses the lawsuit

According to CEO Brad Garlinghouse, San Francisco-based Ripple is poised to go abroad if it loses its litigation with the US Securities and Exchange Commission. Speaking to media house Axios at the Collision conference in Toronto, Garlinghouse said his company could relocate out of the US if the XRP litigation is lost.

“It’s not that we can, we will,” the CEO assured.

Ripple is embroiled in a lawsuit with the SEC alleging that the company circumvented securities laws by selling the cryptocurrency XRP to investors. The lawsuit seeks to determine whether or not XRP is a security.

However, Ripple claims that while it owns a large portion of the XRP tokens, the network through which the XRP transactions are processed is completely decentralized. As previously reported, the cross-border payments company expects the process to be completed next year. Garlinghouse has previously stated that the lengthy legal battle is going “extraordinarily well”, i.e. better than expected.

Ripple recently opened an office in Toronto, Canada with over 150 engineers and employees.