United States Securities and Exchange Commission (SEC) chair Gary Gensler has commented publicly about the last week’s ruling on the agency’s suit against Ripple.
Gensler gave a talk on artificial intelligence at the National Press Club on July 17 and was asked about the ruling during the questions and answers afterward. Does the ruling affect his stance on cryptocurrency, and does it “inject urgency into the need for federal legislation to clarify regulatory oversight of this industry,” he was asked. He replied:
“We are pleased from that decision recognizing the importance of protecting investors – institutional investors – and the court movement in regard to fair notice, and while disappointed [by] what they said about retail investors, we are still looking at it and assessing that opinion.”
Unsurprisingly, the topic arose later in the day when Gensler spoke to Yahoo Finance. Gensler largely repeated himself, saying, “We are pleased that the court addressed […] that a token for institutional investors is a security […] disappointed in the other aspect about retail investors. We are still taking a look at that and considering it.”
Related: Ripple court ruling makes call for regulation ‘more compelling and more urgent’ — former CFTC chair
A lot of crypto exchanges “feel like this was a real win for them” and are relisting XRP, interviewer Jennifer Schonberger told him. Could the decision set a precedent? “You’re asking good questi
Go to Source to See Full Article
Author: Derek Andersen
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
