Ripple is loyal to San Francisco, said co-founder Chris Larsen.

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In October last year, Chris Larsen, co-founder of Ripple, said that the company would consider moving to other countries, citing a lack of regulatory transparency in the United States. Since then, people have wondered where the next headquarters of the company would be housed. However, in the middle of a complaint against SEC about the suspected fraudulent offering of shares and the declining price of XRP, Larsen recently made a new statement stating that the company was here to stay.

Speaking to The San Francisco Chronicle, co-founder said that Ripple’s global headquarter will remain in San Francisco. He added:

‘We’re committed to the city. It’s got the most diversity, creativity…it’s got the critical mass.”

Earlier, CEO of Ripple, Brad Garlinghouse, pointed at the likelihood that Ripple could step out of the US due to the “lack” of a regulatory system. He emphasised that the country was “out of step” and wanted to introduce a consistent regulatory system for crypto.

At the time, the CEO said he was wondering whether Ripple would profit from moving to a country where the rules were clearer. He acknowledged that he was fascinated by how the United Kingdom and other G20 nations, including Singapore, Japan and the UAE, had “clear regulatory mechanisms” that enabled “stable markets to grow.”

RECOMMENDED READ:  Saturday Sit Down: 1st Aug 2020

In the meantime, another top crypto company in the neighbourhood has planned to do away with its headquarters. Coinbase CEO Brian Armstrong said that in the midst of the firm’s home policy work, they chose not to have a base in San Francisco, but to keep their offices open. The CEO added that the business is “decentralised”:

“As we’ve moved to a remote first environment, we realized that we no longer have a headquarters located in any one city.”

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