Yahoo Finance recently ambushed Securities and Exchange Commission (SEC) Chair Gary Gensler on his recent Ripple v. SEC loss pertaining to XRP. He expressed a mixed response to a court ruling stating that Ripple Labsâs XRP token is not necessarily a security. Gensler also insinuated another 6 months of nothing but enforcement actions against the entire crypto industry. Meanwhile, Representative Ritchie Torres, D-N.Y., has penned his second letter to the regulator calling for an overhaul of crypto regulation.
PBN Research
Rep. Torres Asks SEC to Reconsider âCrusade Against Cryptoâ
https://blockworks.co/news/rep-torres-sec-reconsider-regulation-by-enforcement
In the letter, addressed to SEC Chair Gary Gensler and dated Tuesday, Rep. Torres says he is âwriting to inquire if the SEC intends to come to terms with the folly of the Commissionâs crusade against crypto assets in light of the latest decision by Judge Analisa Torres of the Southern District of New York.â
âNeedless to say, regulation by enforcement had a dreadful day in court,â
Time to Settle
U.S. Judge Sarah Netburn has directed the Securities and Exchange Commission (SEC) and Ripple Labs to determine three mutually convenient days for a potential settlement conference.
Judge Sarah Netburn has reportedly ordered both Ripple and the SEC to find three mutually convenient dates for a possible settlement conference âif they believe it would be productive at this timeâ.
Coinbase Earn in Trouble
Investors were reminded of Coinbaseâs (COIN) significant regulatory challenges after Fridayâs market close, when the crypto exchange disclosed it had suspended retail staking services in four of the 10 states that say its staking offerings represent securities, investment bank Berenberg said in a research report Monday.
While the U.S. District Court ruled that Rippleâs XRP token is not a security in and of itself last week, it also ruled that XRP can be classified a security when used in certain transactions, the report said.