This coming Friday signifies Gary Gensler’s final complete workday as the leader of the U.S. Securities and Exchange Commission.
Ripple, the enterprise firm based in San Francisco famed for its link with the digital currency XRP, is already rejoicing at the news of Gensler’s upcoming resignation.
From the next day onwards, it would be fitting to say, “Who’s Gary?” whenever someone brings up his name, as stated by Stuart Alderoty, Ripple’s chief legal officer, on social media. Let’s move forward!
Earlier this week, the SEC filed its opening brief in the much-talked-about appeal against Ripple.
Nonetheless, Alderoty is not swayed by the recent development, which he described as just “background noise.” He remains optimistic that the incoming SEC administration will discard the legal action.
Previously, it was reported that the new heads of the Securities and Exchange Commission (SEC) might temporarily halt certain investigations into cryptocurrencies, excluding those related to fraudulent activities.
According to U.Today’s report, the CEO of Ripple is planning to resign from his position at the end of November.
Gensler recently expressed that serving as the head of the SEC has been an exceptional honor and privilege throughout his lifetime.
It has been an extraordinary honor to serve as your chair at the SEC for the past four years. During this time, we have modernized rules in our equity market and Treasury Markets, shortened the settlement cycle, and expedited the return of over $2.7 billion to wronged investors. Let me briefly summarize our achievements:
1. Updating rules within our equity market and Treasury Markets.
2. Reducing the timeframe for settlement cycles.
3. Facilitating the reimbursement of more than $2.7 billion to harmed investors.— Gary Gensler (@GaryGensler) January 17, 2025
As a researcher delving into the world of cryptocurrencies and blockchain technology, I found myself reflecting on the influential figure of Gary Gensler. In the year 2021, he assumed leadership at the Securities and Exchange Commission (SEC), an event that stirred anticipation within the crypto industry. The CEO of Ripple, Brad Garlinghouse, among others, expressed his approval for this appointment, viewing it as a positive development for the crypto sphere.
Nevertheless, Gensler faced opposition from the crypto community as the SEC initiated legal actions against several well-known cryptocurrency businesses.
In a recent interview, Gensler played down the SEC’s approach towards cryptocurrencies, stating that just 5% of the agency’s law enforcement efforts were focused on this area.
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2025-01-17 23:58