According to Ripple CEO Brad Garlinghouse, the United States is currently one of the worst places to launch a cryptocurrency startup. Garlinghouse believes that the US needs to take note from countries like Singapore, the United Kingdom, the United Arab Emirates, and Switzerland by enacting policies that encourage crypto innovation while protecting consumers.

Garlinghouse blames the Securities and Exchange Commission for engaging in a political war with the industry with its lawsuits. Despite the US being a big market for Ripple, Garlinghouse said it's expanding services to countries he claims are more progressive and better understand the potential benefits of blockchain technology.