Chair

Gary

Revolution

<ul> 
 <li>SEC Chair Gary Gensler remains silent on the agency’s next steps following the XRP ruling.</li> 
 <li>The XRP ruling classifies the token as a security only when sold to institutional investors.</li> 
 <li>Ripple’s Chief Legal Officer asserts that once XRP is deemed not a security, the SEC will lose jurisdiction.</li> 
</ul> 
<p>The U.S. Securities and Exchange Commission (SEC) Chair, Gary Gensler, has maintained a guarded stance regarding the agency’s next course of action following the XRP ruling in favor of Ripple. During a Bloomberg TV segment, Gensler adeptly sidestepped questions about the SEC’s plans to appeal the ruling, underscoring that the agency has yet to reach a decision.</p> 
<p>The XRP ruling on July 13, 2023, classified the XRP token as a security only when sold to institutional investors. Sales to retail investors, however, do not violate federal securities law. This decision led to a resurgence of the XRP token on major crypto exchanges like Coinbase.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">Bloomberg TV just interviewed Gensler for ~10 minutes. Obviously crypto was a topic. But Gensler didn't really give a ton of meaningful or new insight. He *mostly* refused to discuss specifics for the ripple case or for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF filings. Good job <a href="https://twitter.com/kaileyleinz?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@kaileyleinz</a> &amp; <a href="https://twitter.com/daniburgz?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@daniburgz</a> <a href="https://t.co/rynbfeOHto" rel="noopener noreferrer nofollow">pic.twitter.com/rynbfeOHto</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1684592716301172742?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 27, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>Despite calls for clarity, Gensler refrained from commenting on the XRP ruling, stating that the SEC is still deliberating on the Summary Judgment. He reiterated his belief that the broader cryptocurrency market continues to flout securities laws, regardless of the XRP ruling.</p> 
<p>The potential actions the SEC may take in response to the XRP ruling have sparked speculation, leaving investors uncertain about Ripple’s victory in the lawsuit’s final judgment. Ripple’s Chief Legal Officer, Stuart Alderoty, asserted that once XRP is deemed not a security, the SEC will lose its jurisdiction over the token’s trading.</p> 
<p>Looking ahead, the future of Ripple in the crypto space appears promising. Despite the ongoing legal battles, Ripple continues to innovate and drive the adoption of XRP. The potential for growth is limitless, and the crypto world is still growing. As Ripple navigates through these legal challenges, the resilience and potential of XRP become more evident.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4> 
<ul class="wp-block-yoast-seo-related-links"> 
 <li><a href="https://cryptonewsland.com/sec-chair-disappointed-by-courts-xrp-classification-ruling/" rel="noopener noreferrer nofollow">SEC Chair Gary Gensler Disappointed by Court’s XRP Classification Ruling</a></li> 
 <li><a href="https://cryptonewsland.com/us-rep-davidson-aims-to-oust-sec-chair-gensler-in-dramatic-legislative-move/" rel="noopener noreferrer nofollow">US Rep. Davidson Aims to Oust SEC Chair Gensler in Dramatic Legislative Move</a></li> 
 <li><a href="https://cryptonewsland.com/sec-chair-backs-2-4b-boost-to-tame-crypto-wild-west/" rel="noopener noreferrer nofollow">SEC Chair Backs $2.4B Boost To Tame Crypto ‘Wild West’</a></li> 
 <li><a href="https://cryptonewsland.com/sec-chair-gensler-accused-of-crypto-betrayal-explosive-reveal/" rel="noopener noreferrer nofollow">SEC Chair Gensler Accused of Crypto Betrayal: Explosive Reveal</a></li> 
 <li><a href="https://cryptonewsland.com/even-ai-joins-critique-of-us-sec-chairs-performance-a-digital-revolution/" rel="noopener noreferrer nofollow">Even AI Joins Critique of US SEC Chair’s Performance: A Digital Revolution</a></li> 
</ul> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/sec-chair-silence-on-xrp-ruling-deliberate-strategy-or-fear-of-ripples-strength/">SEC Chair Silence on XRP Ruling: Deliberate Strategy or Fear of Ripple’s Strength?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

SEC Chair Silence on XRP Ruling: Deliberate Strategy or Fear of Ripple’s Strength?

Crypto News Land

Other articles published on Jul 28, 2023

Is Tesla Lying to Consumers? What Does This Mean for DOGE?

US Senate passes $886B military spending bill with crypto AML provision!

Investment Banking Firm Shares insight On MicroStragy’s BTC Adoption

InQubeta (QUBE) Takes Crypto World by Storm With Over $1.8M Raised; Could It Outperform Chainlink...

Pomerdoge (POMD) Quickly Gaining the Attention of the Crypto Community, Is This the New Pepe (PEP...

Missing crypto millionaire found dismembered in Argentina

Join our free newsletter for daily crypto updates!