Ripple’s Partial Victory
Ripple recently achieved a partial victory in its legal battle with the SEC, providing much-needed regulatory clarity for the cryptocurrency industry. However, Congressman Ritchie Torres believes that the SEC’s actions are still questionable and warrant further investigation.
SEC Under Scanner
Representative Ritchie Torres has called for two investigations into the SEC’s recent grant of a controversial license to Prometheum Ember ATS. Torres questions whether this license was a political move by the regulatory agency.
Accusations of Politicization
Torres accuses SEC Chairman Gary Gensler of politicizing the registration process by granting a license to a platform that he believes is deceptive. He argues that this reflects a concerning trend in the SEC’s approach to digital assets.
Backlash and Call for Review
Crypto firms have criticized the SEC for its aggressive policing of the market. Torres’s letters highlight the need for an independent review of the SEC’s approach to digital assets in order to expedite necessary regulation.
Prometheum’s Involvement
The Blockchain Association, a US-based crypto advocacy group, has also called for an investigation into Prometheum. They raise concerns about the approval of the SPBD license and the CEO’s involvement in testifying before the US House Financial Services Committee.
Hot Take
The SEC’s actions and decision-making process in the crypto industry have raised suspicions and led to calls for investigation. It is crucial for regulatory agencies to ensure transparency and fairness in order to foster a healthy and thriving cryptocurrency ecosystem.
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