Ripple CEO Brad Garlinghouse gave more details about the company's possible exit from the US, saying that the legal status of his coin is of key importance. Speaking to CNBC on Friday, Garlinghouse said his blockchain payment infrastructure company could potentially relocate to London, where his coin is not considered a security by the financial conduct regulator.

The firm may also consider other countries that take a similar position. Ripple is closely tied to its coin, using the token to move value across some of its institution-facing payment products and also helping its development.

However, in the US, Ripple is in a legal battle with investors who claim that its coin is an illegally issued security, while the Securities and Exchange Commission has not been clear on this issue and is taking action against some projects based on tokens.

“What you see in the UK is a clear taxonomy and the UK FCA has taken the lead in describing how we should think about these different assets and their use cases,” Garlinghouse told CNBC. According to him, since the FCA “clarifies” that his coin is not a security and is used as a currency, it would be “beneficial for Ripple to operate in the UK.”

He added that Ripple is also considering Switzerland, Singapore, Japan and the United Arab Emirates as potential bases.

The report comes after Ripple's executive chairman Chris Larsen made similar comments in early October, suggesting that the firm could pull out of the US due to its hostile stance towards the cryptocurrency industry.