It’s no secret that government agencies have had crypto firms in their sights since inception. Between legal actions in a hostile regulatory environment and litigation from private individuals seeking to take advantage of these firms, it has been challenging for newer crypto projects to launch and succeed. Case in point – Ripple, the $10 billion fintech firm known for its XRP cryptocurrency, is now considering a move to London from its San Francisco-based headquarters.
It appears that the UK is offering a more favorable hospitable environment for XRP as of now, compared to the US. The company is also considering a move to Switzerland, Singapore, Japan and the United Arab Emirates. This publicly stated intention to relocate comes as the company is fighting legal battles with individuals, while resolving challenges with regulatory agencies about the status of its cryptocurrency.
One could replace the name of this cryptocurrency with others and the same types of challenges would still be relevant to others. To use an analogy – if the soil in a garden isn’t fertile enough, then any plant placed there would be stunted in its growth. As long as the legal environment remains hostile to cryptocurrency firms, there will be limits to how successful their projects will be.
The ones who stand to lose the most because of these restrictive and litigious realities are members of the general public. There is a potential in crypto for massive abundance. People who normally would not have access to traditional investments have become very wealthy with crypto. Each time a new or budding crypto project gets derailed by legal actions, there is less opportunity to build wealth and abundance.
That is why META 1 works tirelessly to fight back against excessive regulation and attempts to enforce jurisdiction on global, borderless cryptocurrencies. We created META 1 Coin to promote abundance for Humanity, which is why we don’t allow non-human entities, like corporations and institutional investors to buy META 1 Coin.
Various government agencies continue to try to exert their control over crypto based on old world thinking. Prior to the evolution of crypto, any securities that were offered within a geographic border were naturally governed by the laws of respective countries. The legal registrations and processes involved in offering traditional securities required one to follow a slew of regulations, otherwise no one could access the marketplace.
These traditional securities were, and still are traded largely using fiat currencies, which are inherently governed by the laws of countries and regulated by central banks. However, cryptocurrencies are not based in any specific jurisdiction, are not based on fiat currencies, and so are not controlled by any central banks.
Cryptocurrencies operate independently of any specific nation’s regulations and are free market driven. That’s why government agencies have been clamoring to find ways to exert their control over that which is inherently beyond their control. As they have attempted to litigate cases, they find that courts are not necessarily on their side and they often end in settlements.
While the process of fighting an unceasing barrage of litigation can be tiresome, crypto firms like META 1 Coin Trust are determined to succeed despite any and all obstacles. The environment has certainly evolved in recent years and we are confident that there will be even greater opportunities for growth in the years to come. We welcome a collaborative relationship with governments, investors, and other crypto projects since we all stand to gain by working together versus against one another.
We look forward to a time, hopefully soon, when crypto businesses won’t need to move their headquarters across borders to continue doing business and until then, we will actively stand for the freedoms and human rights we cherish.