Home
News
- The so-called battle between SEC and Ripple is now stepping into the media.
- As Forbes published an article on the SEC regulations, on August 20 2022.
On this Sunday, the General Counsel of Ripple Labs, Stu Alderoty shared a Wall Street Journal opinion piece. He wrote that, “What we need is regulatory clarity for crypto, not the SEC swinging its billy club to protect its turf at the expense of the more than 40 million Americans in the crypto economy.”
The following opinion came after the SEC chairperson, Gary Gensler, published an op-ed in Wall Street Journal. In which he said that the SEC treats crypto as the rest of capital markets.
Gensler, revised in July that SEC’s attempt was to take crypto exchange under oversight and additionally “register where appropriate as securities.” On the other hand, an article published by Forbes on this Sunday, looks quite concerned on Gensler’s stance on crypto and XRP tokens.
Forbes Article Over SEC’s Regulation
In the Forbes article, it includes that around 200 lawsuits against crypto assets since 2017, “suggests the SEC would prefer to litigate companies rather than make rules to guide them in compliance.” This article was researched by the technology innovator, Roslyn Layton.
In the end, Forbes mentioned that the title and content of its article “updated from an earlier story which could have been misinterpreted as news, when it was meant as analysis.”
It must be noted that the SEC filed a lawsuit against Ripple in December 2020 over its sale of XRP. It includes that the native token of Ripple Labs XRP, was an unregistered securities offering worth over US $1.38 billion. In the lawsuit, SEC also mentioned the name of Ripple labs CEO and executive chairman Garlinghouse and Chris Larsen as co-defendants.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
