Ripple triumphs in the legal dispute against the Sec - Gary Gensler's excessive interference comes to an end: a comment

Von Krypto News Österreich

Ripple hat kürzlich einen bedeutenden Sieg gegen die US-amerikanische Securities and Exchange Commission (SEC) errungen. Dieser Sieg markiert möglicherweise das Ende der übermäßigen Regulierung von Kryptowährungen durch die SEC und insbesondere des aggressiven Vorgehens von SEC-Vorsitzendem Gary Gensler. Der Rechtsstreit zwischen Ripple und der SEC begann im Dezember 2020, als die SEC eine Klage gegen Ripple einreichte. Die SEC beschuldigte Ripple, illegal Wertpapiere in Form von XRP, der Kryptowährung des Unternehmens, verkauft zu haben. Die Klage hatte weitreichende Auswirkungen auf den Krypto-Markt und führte zu einem massiven Rückgang des XRP-Preises. Die Kernaussage der SEC in diesem Fall war, dass Ripple …
Ripple recently won a significant victory against the US Securities and Exchange Commission (SEC). This victory may mark the end of the excessive regulation of cryptocurrencies by the SEC and in particular the aggressive approach of SEC chairman Gary Gensler. The legal dispute between Ripple and the SEC began in December 2020 when the SEC submitted a lawsuit against Ripple. The SEC accused Ripple, illegal securities in the form of XRP, to have sold the company's cryptocurrency. The lawsuit had far-reaching effects on the crypto market and led to a massive decline in the XRP price. The core message of the SEC in this case was that Ripple ... (Symbolbild/KNAT)

Ripple recently won a significant victory against the US Securities and Exchange Commission (SEC). This victory may mark the end of the excessive regulation of cryptocurrencies by the SEC and in particular the aggressive approach of SEC chairman Gary Gensler.

The legal dispute between Ripple and the SEC began in December 2020 when the SEC submitted a lawsuit against Ripple. The SEC accused Ripple, illegal securities in the form of XRP, to have sold the company's cryptocurrency. The lawsuit had far-reaching effects on the crypto market and led to a massive decline in the XRP price.

The core message of the SEC in this case was that Ripple and its managers carried out the sale of XRP as part of an unregistered securities offer. Ripple, on the other hand, argued that XRP should not be securities, but a cryptocurrency similar to Bitcoin or Ethereum and therefore not to be subject to SEC regulation.

On June 22, 2021, the judgment of a court in New York was in favor of Ripple. The court found that the SEC could not consider the sale of XRP as a security offer because it was a cryptocurrency. The court argued that XRP had a tradability and that the SEC has no authority to regulate the entire crypto market.

The judge also emphasized that the SEC had waited too long before taking legal action against Ripple. Ripple had already sold XRP for years before the SEC filed a lawsuit. This aspect of the case could also have an impact on future SEC procedures against other cryptocurrency companies.

The victory of Ripple is of considerable importance for the cryptocurrency industry as a whole. It could lead to the SEC rethinking its regulatory tactics and will be more careful in the future. The industry has long been afraid of excessive regulation by the SEC, which could limit innovation options and hinder the crypto market.

In addition, SEC chairman Gary Gensler was also criticized due to his aggressive approach to cryptocurrencies and crypto companies. Gensler, who was previously professor of blockchain technology, sued a number of companies because of the distribution of non-registered securities and tried to exercise more control over the crypto market.

The victory of Ripple could therefore be a signal that the excessive regulation of cryptocurrencies through the SEC ends. However, it remains to be seen how the SEC will react to the judgment and whether it will appeal.

In any case, Ripple's victory is a milestone for the cryptocurrency industry and could have positive effects on the crypto market. It will be shown whether this victory will also have an impact on other crypto companies and their legal disputes with the SEC. However, one thing is certain: the decision in favor of Ripple awakens hope of less restrictive regulation of cryptocurrencies in the USA.