Gary Gensler’s Response to XRP Lawsuit Question Causes Temporary Pause in Interview

Gary Gensler's Response to XRP Lawsuit Question Causes Temporary Pause in Interview

Gary Gensler’s Response to XRP Ripple (XRP) Lawsuit Rulings

During an interview, United States Securities and Exchange Commission (SEC) Chair Gary Gensler was questioned about the recent court losses in cryptocurrency lawsuits, including the Ripple XRP Ripple (XRP) lawsuit. Gensler, known for his anti- cryptocurrency stance, at the beginning stated that the cryptocurrency industry often operates outside the law. Nonetheless, when confronted with the fact that Ripple and Grayscale had received favorable rulings from sympathetic judges, Gensler remained silent, acknowledging the setbacks.

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Probable Impact on Spot Bitcoin (BTC) ETFs

The recent ruling in the Grayscale lawsuit could expedite decisions regarding spot Bitcoin (BTC) ETF applications from corporations like Blackrock, Fidelity, and Bitwise. The SEC Chair previously mentioned that a decision on the court order related to Grayscale had not been made yet. This development implies that a resolution may come sooner than expected.

SEC’s Collective Decision-Making Process

Gensler has been deflecting questions about cryptocurrency lawsuits by emphasizing that decisions are made collectively by all SEC Commissioners rather than unilaterally. This marks a departure from his previous aggressive anti- cryptocurrency statements. During a Congressional hearing, Gensler made it clear that the determination regarding multiple spot Bitcoin (BTC) ETFs would involve input from all SEC Commissioners.

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Hot Take: Gensler’s Evolving Stance on Cryptocurrency Lawsuits

Chair Gary Gensler’s recent silence on the Ripple XRP Ripple (XRP) lawsuit and acknowledgment of setbacks indicate a shift in his approach to cryptocurrency lawsuits. Although while he has maintained an overall anti- cryptocurrency position, he now emphasizes collective decision-making within the SEC. This change could have implications for future rulings and regulatory actions related to cryptocurrencies.

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