SEC Chairman Gensler Expresses Disappointment Over XRP Case AS Us Court Delivers Victory for Ripple

SEC Chairman Gensler Expresses Disappointment Over XRP Case AS Us Court Delivers Victory for Ripple

The chairman of the US stock exchange supervisory authority (SEC), Gary Gensler, commented on the XRP case and the recent judgment. A US court has decided that XRP is not a security, which means a victory for the payment company Ripple. The SEC had sued Ripple Labs in 2020 and accused them of violating the rules of the regulatory authority by selling XRP without registering it as securities. The judgment of this case has a major impact on the crypto industry because it creates a precedent that could be of great importance in the coming years.

Gensler approved the court ruling in relation to institutional investors. However, he expressed his disappointment with the judgment regarding the small investors. He explained that the SEC was still checking and evaluating the verdict. Nevertheless, he emphasized that the regulatory authority's mission would continue to exist freely.

Gensler said that the SEC continues to take measures and that the registration of crypto companies would make it easier to protect the integrity of the industry. He emphasized that the SEC companies that do not adhere to the regulations will persuade the regulations to protect the public in the investor.

The judgment about Ripple Labs' XRP token recently attracted a lot of attention. The judge Torres in New York said that XRP was a security if it is sold directly to institutional investors under certain written contracts. However, if the token is sold via crypto exchanges, it is not considered a security. This decision has caused different reactions. The crypto community sees you as a victory for the industry and potentially pioneering for similar cryptocurrencies. Gensler, on the other hand, expressed reservations about the judgment of the court.

Regulatory development in this case undoubtedly attracts the attention of investors, companies and observers in the crypto room. The effects on the regulatory landscape of the crypto industry are still being observed closely.

In the meantime, XRP has experienced a slight retracement of 1.3 % in the last 24 hours after it had recorded an increase of more than 50 % last week.