SEC ‘Disappointed’ With XRP Ruling on Retail Investors — Chair Gensler Hints at More Crypto Industry Enforcement
U.S. Securities and Exchange Commission Chairman Gary Gensler has stated that the regulator is “disappointed” with the SEC v. Ripple ruling on XRP regarding retail investors. “We are still looking at it and assessing that opinion,” he affirmed. Gensler also reiterated the SEC’s commitment to enforcing regulations on the crypto industry and ensuring compliance among crypto firms. Gensler Says SEC Is ‘Assessing’ the Ripple Ruling on XRP The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, commented on the ruling in the SEC v. Ripple case during his remarks at the National Press Club luncheon Monday. The court ruled last Thursday, as described by Ripple’s chief legal officer, that “ XRP is not a security … sales on exchanges are not securities. Sales by executives are not securities. Other XRP distributions — to developers, to charities, to employees are not securities.” The Ripple legal counsel noted: “The only thing the court found constitutes an inv