Gary Gensler Refuses to Reveal Whether SEC Will Appeal Ripple’s Victory

SEC Chairman Gary Gensler refuses to divulge what the agency’s initial step might be in retaliation against Judge Torres’ ruling on the Ripple case.

When grilled by Bloomberg reporter Kailey Leinz about the likelihood of the SEC’s appeal, Gensler noted that he, amongst 5 other commissioners, lacked the authority to deflect the committee in a single direction. Noting the dissidence between Commissioners, Genlser insisted the SEC’s reaction was subject to recommendation by its staff.

“I’m one of five Commissionaires. Seeing as there is no action on this proposed discrepancy as of yet, the staff’s proposals will be discussed before declaration”, said Gensler.

Facial debates on the SEC’s roadmap have besieged the Ripple incident, many contending the Commission intend to reverse the ruling with an appeal. Admittably, certain third-//party organizations allude to Judge Torres’ judgment serving them as a backstay against SEC judgement, as evidenced by TerraForm Labs’ lawsute. Taking into consideration the prevalence of these cases, the SEC may aim to challenge Judge Torres with legal argumentation, however their dependancy on Second Circuit substantiations, grants said scenario high risks of failing.

Robert Wilson author
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