PiCK
Ripple (XRP) Executive: "Gary Gensler's Resignation Will End SEC-Crypto Industry War"
Summary
- Stuart Alderoty, CLO of Ripple (XRP), stated that the resignation of Gary Gensler, SEC Chairman, will end the crypto industry war.
- Ripple reported that their request to extend the deadline for submitting appeal documents to the SEC was denied.
- Ripple is confident of winning the appeal and looks forward to cooperating with the new SEC leadership.
Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple (XRP), stated on the 14th (local time) via X (formerly Twitter) that "with Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), resigning on January 20th (local time), the war with the crypto industry will also end," adding that "Ripple requested an extension for submitting appeal documents to the SEC, but the SEC refused."
He further added, "We are confident of winning the appeal and hope to resolve this issue in cooperation with the new SEC leadership."
Ripple and the SEC have been in a legal battle over unregistered securities sales since December 2020. In August 2024, a U.S. court ordered Ripple to pay a penalty of $125 million in the first trial, and the SEC appealed. Meanwhile, January 15th was the deadline for the SEC's opening brief submission.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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