{"id":420065,"date":"2023-07-18T13:35:37","date_gmt":"2023-07-18T13:35:37","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=420065"},"modified":"2023-07-28T21:17:23","modified_gmt":"2023-07-28T21:17:23","slug":"sec-chair-gary-gensler-disappointed-with-ripple-ruling","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sec-chair-gary-gensler-disappointed-with-ripple-ruling","title":{"rendered":"SEC Chair Gary Gensler &#8216;Disappointed&#8217; with Ripple Ruling"},"content":{"rendered":"<p>SEC chair Gary Gensler said he&rsquo;s disappointed with last week&rsquo;s court ruling that Ripple Labs Inc.&rsquo;s XRP token isn&rsquo;t a security when sold to the public.<\/p>\n<p>Gensler, speaking at the National Press Club, said the <a href=\"https:\/\/insidebitcoins.com\/news\/sec-settles-lawsuit-with-crypto-startup-over-unregistered-securities-offering\">Securities and Exchange Commission<\/a> also is pleased with the ruling that XRP is a security when sold to institutional investors, and added that the SEC is still assessing the judge&rsquo;s ruling.<\/p>\n<p>Ripple&rsquo;s victory on the retail side of the ruling was hailed as a major breakthrough for the crypto industry and ignited a surge in crypto prices. It also marked a significant setback for the SEC&rsquo;s decade-long enforcement efforts in <a href=\"https:\/\/insidebitcoins.com\/news\/new-cryptocurrency-releases-listing-presales-today-mantle-lootbot-neon-evm\">the cryptocurrency industry<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN:<\/p>\n<p>SEC Chair Gary Gensler speaks about Ripple XRP ruling for first time, since last weeks court ruling <a href=\"https:\/\/t.co\/0lOzJEDs1e\">pic.twitter.com\/0lOzJEDs1e<\/a><\/p>\n<p>&mdash; WhaleFUD (@WhaleFUD) <a href=\"https:\/\/twitter.com\/WhaleFUD\/status\/1681003204924809217?ref_src=twsrc%5Etfw\">July 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>CFTC Commissioner Sees Path to Corporation With SEC After Ripple&rsquo;s Judgment<\/h2>\n<p>Commodities Futures Trading Commissioner Caroline Pham said in an interview on Bloomberg Television that Ripple&rsquo;s partial victory has paved the way for regulatory clarity in the United States regarding cryptocurrencies.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Thank you <a href=\"https:\/\/twitter.com\/BloombergTV?ref_src=twsrc%5Etfw\">@BloombergTV<\/a> for the opportunity to talk about our important GMAC initiatives! Beyond crypto, institutional markets &amp; central banks are looking at tokenization of real assets like bonds. Today, we heard about international, US &amp; EU developments &amp; key takeaways. <a href=\"https:\/\/t.co\/cWTShDy2Bf\">https:\/\/t.co\/cWTShDy2Bf<\/a><\/p>\n<p>&mdash; Caroline D. Pham (@CarolineDPham) <a href=\"https:\/\/twitter.com\/CarolineDPham\/status\/1681103037396398089?ref_src=twsrc%5Etfw\">July 18, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>She referenced an earlier observation that courts would play a crucial role in defining securities and noted that this had been demonstrated via the Ripple ruling on Thursday.<\/p>\n<p>Pham expressed hope for collaboration among regulators, including the SEC, to develop a comprehensive <a href=\"https:\/\/insidebitcoins.com\/news\/sec-is-overzealous-traffic-cop-must-be-investigated-us-congressman-says\">approach to crypto regulation<\/a>.<\/p>\n<h3>Related News<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/xrp-open-for-trading-in-us-after-landmark-court-ruling\">XRP Open For Trading in US After Landmark Court Ruling<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/ripple-ruling-on-shaky-ground-will-likely-be-overturned-former-sec-lawyer-says\">Ripple Ruling &lsquo;On Shaky Ground,&rsquo; Will Likely Be Overturned, Former SEC Lawyer Says<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/eric-adams-nyc-mayor-bitcoin-not-a-security\">Eric Adams, NYC Mayor: Bitcoin not a Security<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/bitcoin-investors\/gary-gensler-net-worth\">Gary Gensler Net Worth<\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Most Searched Crypto Launch - Pepe Unchained<\/p>\n                                    <\/div>\n                                    <div class=\"col-12 col-md-4\">\n                                        <div class=\"inContentProviderSingle--rating\">\n                                            <div class=\"rating--holder\">\n                                                <p class=\"rating--text\">Rating<\/p>\n                                                <div class=\"rating--star-container\">\n                                                    <div class=\"rating--star\" style=\"width: 100%;\"><\/div>\n                                                <\/div>\n                                            <\/div>\n                                        <\/div>\n                                    <\/div><!--\/.col-md-4-->\n                                <\/div><!--\/.row-->\n                                <div class=\"row\">\n                                    <!-- *******  Desktop Provider Logo ********** -->\n                                    <div class=\"col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none\">\n                                        <img decoding=\"async\" class=\"inContentProviderSingle--img mb-3\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2024\/08\/pepu.svg\" alt=\"Pepe Unchained\" width=\"125\" height=\"60\">\n                                    <\/div>\n\n                                    <div class=\"col-12 col-md-8\">\n                                                                                    <ul class=\"inContentProviderSingle--list\">\n                                                                                                    <li>Layer 2 Meme Coin Ecosystem<\/li>\n                                                                                                    <li>Featured in Cointelegraph<\/li>\n                                                                                                    <li>SolidProof &amp; 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