The recent interview with US SEC chief Gary Gensler is once again a hot topic in the crypto world as his statements have sent some mixed signals. In this latest interview with Jon Stewart, Mr. Gensler talked about liability, lawsuits and even taking losses. The head of the SEC has been very vocal about federal policy and has recently made some comments about some famous cases.
Is SEC Losing Its Ability to Keep Up?
In an episode of “Can We Fix the Stock Market?” with Jon Stewart, Gary Gensler clears the air about the committee’s policies and approach. Here are some interesting moments from the interview.
Jon Stewart said it doesn’t seem like the SEC has the ability to keep up, asking, “Is there anything you would think could give the SEC more teeth, in terms of liability?”
SEC Chief said, “I think we can bring up some important cases, that’s kind of high-profile cases, showing people that ‘No, you’re over the line.’ It could be accounting fraud. It could be insider trading.
Take some losses every now and then, says Gensler
But is there anything that would be more of a deterrent? Stewart added,
More of a deterrent is bars where individuals. There’s nothing like individual responsibility to send a deterrent across the entire market. When someone is held accountable. We only have civil enforcement, but that means we have to keep them off the industry, Gary replied:
Affirming the committee’s approach, SEC Cheif said, “This agency has to be willing to go to court and, you know, take losses from time to time. But go to court. I think all those things, but it tries to use high-profile cases to get people back on the right side of the line.”
This statement from SEC chief Gary Gensler has sparked investor curiosity.
Does a Ripple Win on Cards?
Ripple is in a very long legal battle against the SEC and it looks like closure is imminent. The SEC is lagging behind in court proceedings and appears to be using delaying tactics. On the other hand, Ripple has a head start after the court uncovers key documents and discussions in the XRP vs SEC case. †
The fact that Gensler talks about popular cases, going to court and taking losses can be taken as a hint to the upcoming development in several cases. What do you think?
In another interview, when asked about the SEC chief’s comments, Ripple CEO Brad Garlinghouse said:
“I don’t know what he said, but he said we’re going to lose and we’re okay with that.”
He also said he expects some important court decisions soon. He claimed that during his meetings with Mr. Clayton and other SEC officials, no one ever mentioned that XRP could be a security.
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About the author
Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analyses. When he’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email protected]
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