SEC chairman Gary Gensler made comments on the recently concluded Ripple lawsuit.
SEC chairman Gary Gensler conveyed his comments on the case, which the cryptocurrency market is looking forward to. Gensler commented on the summary judgment.
SEC chairman Gary Gensler’s comments on the Ripple case
The decision that selling Ripple Labs Inc’s XRP token on exchanges does not violate securities law was interpreted as a victory over the SEC’s efforts to defend jurisdiction over crypto firms. Experts say this decision will encourage Coinbase and other companies to resist the SEC’s influence on the industry.
The crypto industry is in contention with the SEC and chairman Gary Gensler, and the decision of the Ripple lawsuit could enable crypto firms to build a stronger line of defense against the SEC. The decision is thought to offer a new argument for Coinbase, Binance, Bittrex and other exchanges targeted by the SEC.
Stating that this decision supports the arguments that sales on public crypto exchanges are not considered securities, experts say it is a turning point for crypto advocates. However, spokespersons for the SEC and crypto exchanges have yet to comment on the matter.
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