SEC vs. Ripple: Gary Gensler unhappy with the verdict
Ripple’s battle with the SEC came to an end last week. While the settlement company must feel relieved, the regulator hasn’t said its last word. If CEO Gary Gensler’s statements are anything to go by, it’s not all over yet.
Gary Gensler disappointed with court ruling
The case that pitted Ripple against the SEC for many years is now ancient history in the crypto ecosystem. However, Gary Gensler, CEO of the Securities and Exchange Commission (SEC), has not said his last word. Indeed, he’s having trouble accepting the court’s decision.
According to statements made at a National Press Club event in Washington, DC, he is happy with part of the verdict. Among other things, he’s pleased with the importance of protecting institutional investors. But what about retail investors?
According to Gary Gensler, there are two types of investor, and he doesn’t understand the judge’s verdict on retail investors. The agency is currently examining this issue and, knowing the regulator’s tenacity, things may not remain as they are for long.
What next after the verdict?
The crypto company and the SEC have fought numerous battles over the past three years. While the regulator was certain to prevail, the tide has turned in Ripple’s favor. However, with the Gary Gensler-led body making one accusation after another against crypto companies, it’s a safe bet that it won’t be crossing its arms.
In fact, the words of a former head of the regulator show that there will certainly be a follow-up to this case. John Reed Stark says the verdict is controversial, as it sets a questionable legal precedent. In his opinion, the decision does not comply with investor protection rules, especially as he doubts the classification of the XRP token as a security.
Ripple’s victory over the SEC is a blow to the regulator. However, the controversial nature of the verdict raises a host of questions. If it’s a boon for the crypto community, Gary Gensler isn’t about to accept it without a fight. Given current developments, one wonders what the future holds.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
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