SEC Chairman Gary Gensler has subtly hinted that the commission is considering its options on a potential appeal
Responding to the question on whether Ripple might appeal the case, Gensler stated, "I’m one of five commissioners. The Commission has not acted on that. And if the staff makes a recommendation, we will have a discussion on that, but I don’t have anything more on that.”
Many cryptocurrencies are securities
Addressing investors, Gensler stressed the speculative nature of the crypto market and highlighted that many cryptocurrencies are securities.
However, Gensler did not name any specific cryptocurrencies in his comments.
“Rife with fraud”
Gensler went on to comment on the operations of crypto platforms and intermediaries, suggesting that many were conducting activities that traditional exchanges like the Nasdaq and New York Stock Exchange wouldn't be allowed to carry out.
The SEC Chair cautioned, "This is a field that is rife with fraud, rife with hucksters. There are good-faith actors as well, but there are far too many that aren't.”