Jay Clayton, the Chairman of the US Securities and Exchange Commission (US SEC) resigns from his post in front of New Year. Jay threw in the towel after putting pressure on Ripple Inc. accusing the company of involving itself in the sale of unregistered digital asset securities worth $1.3 billion.
The scuffle between Ripple Labs Inc. and the USA Securities and Exchange Commission (US SEC) is escalating. Cryptocurrency exchanges have begun delisting XRP or paused trading XRP following the US SEC’s court case against Ripple Inc. However, despite this turbulence, Ripple has managed to regain its price level after over 30% drop.
The United States Securities and Exchange Commission (US SEC), an autonomous agency that protects cryptocurrency investors and the national banking and financial system, is going to file a court case against Ripple Inc.
While the US Securities and Exchange Commission is known for its cautious stance on cryptocurrencies, it seems things have been changing. The watchdog’s Chairman claimed that they are open to Decentralized innovations.
The United States Securities Exchange Commission (SEC) has adopted a blockchain forensics tool. Despite seemingly favouring the tech, the agency is not so friendly about the product backed by this tech, namely cryptocurrency.
The United States Securities and Exchange Commission (SEC) has been showing hostility to the cryptocurrency businesses. While pressing hard on some projects including Telegram’s TON network and Bitcoin ETF proposals, the regulator fails to establish regulatory clarity within the industry.