Ripple Navigates Legal Turmoil as Gary Gensler Steps Down
by aria-crypto.com
November 22, 2024 at 10:09
Ripple Navigates Legal Turmoil as Gary Gensler Steps Down
Gary Gensler's resignation as SEC Chair, effective January 20, 2025, has significant implications for Ripple and the broader cryptocurrency market. Critics of Gensler’s tenure at the SEC argue that his leadership involved regulatory overreach, negatively impacting cryptocurrencies like XRP. Despite a court ruling that found Ripple guilty in a case involving an unregistered securities offering of over $700 million, the legal battle continues to draw attention as Ripple appeals the decision. Following Gensler’s resignation, significant speculation circulates about a potential Ripple settlement before the new chair assumes office, which could have profound effects on XRP's value and legal standing. This development coincides with Donald Trump's inauguration, adding political layers to the ongoing SEC vs. Ripple discourse. Ripple's CEO, Brad Garlinghouse, expresses optimism about potential positive changes in SEC's approach to crypto regulation, hoping it will encourage innovation and provide a clearer path forward for XRP. Meanwhile, the entire altcoin market shows signs of a bull run, with XRP leading the trend with a 66% surge in its value over the past week.
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