The fight between Ripple and the SEC ended last week. While the settlement company must feel relieved, the regulator has not said its last word. According to statements by CEO Gary Gensler, it’s not all over yet.
Gary Gensler disappointed with court judgment
The case that opposed Ripple to the SEC for many years is an old story now in the crypto ecosystem. However, Gary Gensler, CEO of the Securities and Exchange Commission (SEC) has not said his last word. Indeed, the latter finds it difficult to accept the court’s decision.
According to statements made during a event of the National Press Club in Washington DC, he is happy with part of the verdict. Among others, the one that highlights the importance of protecting institutional investors. But what about individuals?
According to Gary Gensler, there are two types of investors, and he doesn’t understand the judge’s verdict on retail investors. Currently, the body is looking into this matter and, knowing the tenacity of the regulator, it is possible that things will not stay as they are for long.
What next after the verdict?
The crypto company and the SEC have clashed in numerous battles over the past three years. While the Regulator was certain to prevail, the tide has turned in Ripple’s favor. However, in a context where the organization headed by Gary Gensler is chaining accusations against crypto companies, it’s a safe bet that it will not sit back.
Moreover, the words of a former official of the regulatory body show that there will certainly be a follow-up to this affair. John Reed Stark says the verdict is controversial, as it sets questionable legal precedent. According to him, this decision does not respect the rules of investor protection, especially since he doubts the classification of the XRP token as securities.
Ripple’s victory against the SEC is a blow for the regulator. However, the controversial nature of the verdict raises lots of questions. If he is a boon for the crypto community, Gary Gensler is not ready to accept it without a fight. Given the current developments, one wonders what the future holds.
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