Ripple CEO Brad Garlinghouse said last week that blockchain startups need to leave the United States. This country hinders the development of an industry focused on the market of digital currencies and decentralized technologies.
According to Garlinghouse, the departure of companies to other jurisdictions is already gaining momentum, and the U.S. will eventually lose its status as a technology giant.
In contrast, SEC Commissioner Esther Pierce, often referred to as the “crypto mom,” appealed to startups not to leave the U.S. market.
She expressed concern that the SEC is tightening its scrutiny of digital currencies. The SEC should work with Congress to develop a regulatory framework that will not hinder the development of the industry.
“Crypto Mom” cited Switzerland and Singapore as an example, which are trying to attract businesses involved in expanding infrastructure for digital currencies.
She stressed that cryptocurrency companies should stay in the US, while supporters of legalizing the market will try to speed up the process.
The SEC commissioner said:
“I think the United States is a good place to do business and I want it to stay that way and we will get regulation.”