Kenne Michael 
Over 80% of Ripple Labs Inc.’s hiring this year will occur outside the United States as the company shifts its focus internationally.
The decision comes as the crypto payments company continues to combat the U.S. Securities and Exchange Commission (SEC) in court.
According to Bloomberg, Brad Garlinghouse, CEO of Ripple, stated that various overseas jurisdictions, including Singapore, Hong Kong, the United Kingdom, and Dubai, are actively cooperating with the cryptocurrency industry to establish clear regulatory rules and stimulate growth.
Even though the corporation has already spent well over one hundred million dollars on legal fees, Garlinghouse is optimistic about the company’s prospects in these locations. He stated that:
“You have a government that has unlimited resources to keep fighting a fight they’ve already lost.”
The Securities and Exchange Commission (SEC) recently submitted a motion in the Southern District of New York, asking for clarification on its pending action against Ripple Labs.
Regarding the Howey test, a legal assessment used by the SEC to determine if a transaction qualifies as an investment contract and, as a result, comprises financial security, the SEC acknowledged contrasting opinions expressed within the United States courts.
Ripple’s sales of XRP to institutional investors were found to violate securities regulations in a summary judgment issued in July.
On the other hand, Ripple’s sales of XRP on public exchanges to regular investors were found to comply with the law.
Amid all of this legal upheaval, Ripple Labs announced that it would be acquiring Fortress Trust, a Nevada-based crypto infrastructure company.
Ripple receives a regulatory license in the state due to this strategic decision, which has the potential to open up new doors for the company in the market in the United States.
