The petition also demands “a thorough investigation of the matters that led to the last-minute lawsuit against Ripple, filed on the last day in office by former SEC Chairman … The company, Ripple Labs, ... Jay Clayton, who was the S.E.C. Source: ripple.com Former SEC Chair under the spotlight. A petition has been started calling on U.S. Securities and Exchange Commission (SEC) Chairman-Designate Gary Gensler to end the lawsuit against Ripple Labs and its executives over XRP tokens. The good news is Gary is knowledgeable and enthusiastic about blockchain and digital assets. A few days ago, CFTC Commissioner Stump has expressed the CFTC’s attention to the lawsuit filed by the SEC against Ripple Labs and its co-founders for having sold more than 14.6 billion XRP tokens worth $1.38 billion in an unregistered offering, according to the complaint. Ellipal Hardware Wallet “Air Gapped Security” Biden is expected etc name Gary Gensley as the new Chairman of the SEC. Gensler, who succeeds former Chairman, Jay Clayton will lead the SEC for 5 years through 2026. Gary Gensler has been sworn in as the new Chairman of the United States Securities and Exchange Commission (SEC), following his nomination by President Joe Biden and his subsequent confirmation by the Senate on April 14, 2021. For Ripple and the XRP community, this could be positive news, just like the departure of Jay Clayton as SEC Chairman. According to the SEC's complaint, Ripple; Christian Larsen, the company's co-founder, executive chairman of its board, and former CEO; and Bradley Garlinghouse, the company's current CEO, raised capital to finance the company's business. Berger played a major role in the SEC’s action against Ripple Labs after he was named deputy director in August 2020 and acting director of the Division of Enforcement at the SEC in December. As Ripple prepares for court, XRP enthusiasts are rallying around a petition that is asking the SEC chair nominee Gary Gensler to drop the lawsuit alleging that the blockchain payments firm conducted a $1.3 billion sale of an unregistered securities offering after his official confirmation as the agency’s chairman. In late December, the SEC filed charges against Ripple over allegations that it, along with two key executives, sold $1.3 billion of unregistered securities over a seven-year period.. One of the oddities that soon emerged was the resignation of Jay Clayton, as SEC Chair, the day after bringing charges. Ripple XRP: New SEC Chairman Gary Gensler "XRP is a Security" Posted on February 19, 2021 by coin4world 47 Comments. A petition has been started calling on U.S. Securities and Exchange Commission (SEC) Chairman-Designate Gary Gensler to end the lawsuit against Ripple Labs and its executives over XRP tokens. The SEC filed suit against Ripple on Dec. 22, 2020, the day before former Chairman Jay Clayton’s resignation, and some noticed the timing. A petition has been started calling on U.S. Securities and Exchange Commission (SEC) Chairman-Designate Gary Gensler to end the lawsuit against Ripple Labs and its executives over XRP tokens.The petition also demands “a thorough investigation of the matters that led to the last-minute lawsuit against Ripple, filed on the last day in office by former SEC Chairman … The SEC has recently raised eyebrows for protesting against a subpoena on One River Asset Management, which hired ex-SEC Chairman Jay Clayton after he filed the complaint against Ripple the day before leaving office. CFTC eyes SEC v Ripple for regulatory clarity.
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