{"id":8398,"date":"2025-01-18T13:16:57","date_gmt":"2025-01-18T13:16:57","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=8398"},"modified":"2025-01-18T13:16:57","modified_gmt":"2025-01-18T13:16:57","slug":"ripple-cheers-as-gary-gensler-exits-sec-leadership","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=8398","title":{"rendered":"Ripple Cheers As Gary Gensler Exits SEC Leadership"},"content":{"rendered":"
\n

Ripple has much to celebrate following the announcement of resignation of Gary Gensler as Chair of the US Securities and Exchange Commission.<\/p>\n

The recent upheaval at the SEC may indicate a shift in the protracted dispute between Ripple Labs and the SEC about the classification of XRP.<\/a><\/p>\n

Ripple\u2019s legal team has conveyed confidence regarding prospective alterations in the SEC\u2019s position, particularly with the prospect of a more cryptocurrency-friendly CEO at the helm.<\/p>\n

A New Chapter In Ripple\u2019s Legal Dispute<\/strong><\/h2>\n

The news that Gensler was leaving was a surprise, but for Ripple, it marks a positive opportunity. Legal counsel for Ripple has continuously criticized Gensler\u2019s forceful stance on cryptocurrency regulation, particularly with regard to XRP\u2019s designation as a security.<\/a><\/p>\n

Gary Gensler\u2019s controversial time as Chairman of the U.S. Securities and Exchange Commission (SEC) came to an end on Friday when he formally resigned.<\/p>\n

Stuart Alderoty<\/a>, the Chief Legal Officer at Ripple, made fun of Gensler\u2019s departure on social media site X, claiming that the cryptocurrency community would quickly forget him.<\/p>\n

\n

Today marks Gensler\u2019s last full day. Starting tomorrow, \u2018Gary who?\u2019 will be the only appropriate response if someone mentions his name. Onward.<\/p>\n

\u2014 Stuart Alderoty (@s_alderoty) January 17, 2025<\/a><\/p>\n<\/blockquote>\n

Many inside the cryptocurrency community expect a shift in regulatory stance as Paul Atkins emerges as a potential replacement.<\/p>\n

Since they argue that a new SEC chair might ease tensions and reduce regulatory risks related to digital assets, Ripple\u2019s lawyers see this as a potential opportunity for more favorable treatment.<\/p>\n

<\/p>\n

SEC\u2019s Contentious Strategy Under Gensler<\/strong><\/h2>\n

Under Gensler, the SEC gained a bad reputation for treating cryptocurrencies negatively. Many objected that the present state of affairs just reflected the inconsistency defining his leadership since the agency\u2019s strategy seems unfavorable for the developing industry.<\/p>\n

Ripple and other crypto advocates have expressed frustration with the SEC\u2019s litigation and perceived ambiguity in cryptocurrency regulation. With Gensler set to retire, the discussion has increasingly turned to how a new SEC chair could change the landscape.<\/p>\n

\n

Another example of how @GaryGensler<\/a> is leaving the @SECGov<\/a> in disgrace. The reputation of the SEC, both inside and outside the courtroom, is in complete shambles.Paul Atkins has his work cut out for him.<\/p>\n

It would be nice to witness real reform at the SEC. Also, we need to\u2026 https:\/\/t.co\/ZnaSdbJbrc<\/a><\/p>\n

\u2014 John E Deaton (@JohnEDeaton1) January 14, 2025<\/a><\/p>\n<\/blockquote>\n

Deaton On SEC\u2019s Future<\/strong><\/p>\n

One well-known lawyer in the XRP group, John Deaton, has also said something about it. He said that the SEC was a mess when Gensler was in charge and that the exit is a big chance for things to get better.<\/p>\n

Deaton says that the SEC has been going too far in its efforts to regulate cryptocurrencies, and many people in the business are questioning its methods. At this point, everyone is wondering if the new SEC leaders will make things more fair and open.<\/p>\n

What Lies Ahead For Ripple?<\/strong><\/p>\n

The future is unknown even if Ripple\u2019s team is hoping that the SEC\u2019s next steps would deviate from historical outcomes. Although XRP is under constant legal discussion, Ripple is hopeful that new leadership will guide the business into a route more fit for development and innovation in the digital currency sector.<\/p>\n

XRP, the native coin of Ripple, jumped to $3.13<\/a> on Friday as word got out about Gensler\u2019s resignation. The coin is up over 30% in the last seven days.<\/p>\n

Featured image from Vox, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ripple has much to celebrate following the announcement of resignation of Gary Gensler as Chair of the US Securities and Exchange Commission. The recent upheaval at the SEC may indicate a shift in the protracted dispute between Ripple Labs and the SEC about the classification of XRP. Ripple\u2019s legal team has conveyed confidence regarding prospective […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-8398","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/8398","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8398"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/8398\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}