$10 billion crypto firm Ripple considers relocating to London over U.S. regulation

$10 billion crypto firm Ripple considers relocating to London over U.S. regulation

In this photo illustration of the ripple cryptocurrency 'altcoin' sits arranged for a photograph on April 25, 2018 in London, England. Jack Taylor | Getty Images News | Getty ImagesLONDON — Ripple, the $10 billion financial technology company best known for cryptocurrency XRP, is considering relocating its headquarters overseas due to frustration with the U.S. regulatory environment.The San Francisco-based firm's CEO Brad Garlinghouse, who says he visited London only last month, told CNBC that U.K. markets watchdog the Financial Conduct Authority doesn't deem XRP a security — a key source of contention in its home market. Other regions had provided similar assurances, he added."What you see in the U.K. is a clear taxonomy, and the U.K.'s FCA took a leadership role in characterizing how we should think about these different assets