In a recent public statement, SEC Commissioner Caroline Crenshaw fiercely opposed the Commission's agreement with Ripple and accused him of doing “huge disservice” to retail investors.
The Ripple case is the cause of Célèbre for obvious reasons in the crypto community. It represented the extent of the regulatory extent in the Gensler era and Ripple's victory was eventually a positive development of the entire sector.
Crenshaw rejects the SEC pulsation settlement
The Ripple VS SEC case has been a landmark for the US Federal Crypto enforcement. After a week of discussions, the Commission concluded an agreement with Ripple yesterday, accepting $ 75 million to refund the previous reward.
Commissioner Crenshaw challenged the SEC's decision with a cut cut letterTo.
“If Ripple decides to sell unregistered XRP chips to institutional investors tomorrow – by clearly defying the court order – this committee will not do absolutely anything about it.” He claimed
In December last year, political maneuvering from the Senate-Crypto faction defeated Crenshaw's attempts to win another SEC term.
Since then, he has continued the legacy of Gary Gensler, publicly criticizing the crypto that supports the Commission on several last time. Today's letter to Ripple is one of many of these statements and he did not chop the words.
The cruise for the Crenshaw argument was essentially that the SEC has not yet completely reorganized the US crypto policy. Whether the Commission will be able to successfully relax the rules in the future, “it will not change the rules that Ripple was violated.”
In other words, he claimed that Ripple's settlement was an existing framework.
For the sake of clarity, his question is not necessarily the case with the SEC gardens with Ripple. Instead, Crenshaw is worried that the SEC did not have enough grounds to cancel his previous decisions.
Crenshaw also claimed that this policy does nothing more than favoring the crypto industry – it undermines SEC itself. The lawyers of the Commission are publicly arguing against positions that holds positions less than six months ago, creating chaos and uncertainty.
Ultimately, he thinks that this uncertainty is disproportionately damaging to retail investors. Crenshaw seems to continue alone with the soldier's Gensler's etho, while both SE and the crypto industry move on.
“Our agency is afraid, worried that the Court of Appeal will issue a reasonable decision that agrees with the legal arguments of the Commission. This would damage the agency's new apparent mission to demolish our crypto enforcement program and erode investors' protection. For these reasons, I cannot support our settlement.
Caroline Crenshaw is not the only official who calls into question the SEC war on the enforcement of crypto. Senator Elizabeth Warren recently expressed concern about the Commission's political independence. These problems are also essential for the crypto industry itself.
In the Gensler era, the reputation of federal regulators suffered from excessive examples of excessive examples in the crypto community. Now that the industry has an unprecedented political impact, it can overcome many ways. Legal clarity and Laissez-Faire Outlook help companies, but they also need reliable regulators.
Giving up
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