Arrington XRP Capital Fleeing US in Reaction to Unfriendly SEC

Michael Arrington, a prominent crypto investor and founder of popular online portal TechCrunch, announced that his Arrington XRP Capital hedge fund would stop investing in tokens on US territory and most likely move to Asia until the Securities and Exchange Commission (SEC) clarifies its position and defines the game rules for the crypto industry.

“We received a second subpoena from the SEC, again collecting information from us as investors in a U.S. company. The legal costs of dealing with these are not insignificant. We will not invest in any further U.S. deals until the SEC clarifies token rules. Pivot to Asia,” Arrington wrote in his Twitter feed.

In comments to the tweet, he explained that the relocation plan is still sketchy as the company considers different jurisdict…

This article appeared first on Cryptovest

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