Ripple Labs believes new SEC Chairman Gary Gensler would drop the said lawsuit
The SECs’ alleged unregistered digital asset securities offering (to raise US$1.3 billion) lawsuit against Ripple Labs, Inc. is not settling. FOX Business Network’s (FBN) recent tweet suggests settling with the SEC is not on Ripple’s schedule. Ripple Labs is confident the SEC’s new chairman Gary Gensler would eventually drop the case.
Interesting to note, Prof. Gary Gensler taught a cryptocurrency course at the prestigious MIT (Massachusetts Institute of Technology). Ripple believes the ongoing lawsuit is only stopping crypto innovation. U.S. Senators had recently pressed Gensler to offer enough cryptocurrency regulation guidance for clarity.
FBN reports that the SEC vs. Ripple case could determine the former’s future regulatory power in the US$2.2 trillion crypto market. Gensler is pro-crypto innovation. He remarked before the Aspen Security Forum, “Satoshi Nakamoto’s innovation is real.” This leads Ripple Labs to believe Gensler would altogether demerit the SEC-XRP lawsuit.
Experts opine the SEC would lose the case against Ripple—skyrocketing XRP’s price to US$2.30. Techstory.in reports XRP wallet addresses have risen over 200% in the recent months.