The recent enforcement action against Binance by the US Commodity Futures Trading Commission (CFTC) has led experts to suggest that the crypto industry may shift to other countries with lighter regulations. Susan Friedman, Head of Public Policy at Ripple Labs, stated that other jurisdictions have already constructed regulatory frameworks for crypto over the past four years, while the CFTC is still struggling. She added that it's not a question of if the industry leaves the US, but how fast. Ripple Labs, its co-founder Chris Larsen, and CEO Brad Garlinghouse are already involved in a legal battle with the US Securities and Exchange Commission (SEC), and both parties are awaiting a Summary Judgement in the XRP lawsuit. Stuart Alderoty, Chief Legal Officer of Ripple, has questioned the SEC's claims to "just come in and register" in the recent cases and called for the commission's jurisdiction overreach to be stopped.
(By Ashish Kumar)
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