In an interview, Gary Gensler blasted the crypto industry, calling it an area where former pioneers are in jail or in court.
He argued that the sector was not compliant with current regulations, which led to the condemnation of the sector's top managers.
Ripple's CEO quickly declined to comment on Gensler in an #interview , calling it a\n
The legal battle took a new direction after a $4,447,000 settlement agreement was signed between Terraform Labs and its founder Do Kwon. This prompted #Ripple to draw parallels and demand a reduction in fines. Ripple's lawyers said Terraform faced fraud allegations that netted billions of dollars, but Ripple was only accused of selling unregistered securities without any fraud charges.
#ЛюбимыйТокен election: who will win?
While the SEC continues to put negative pressure on the Biden administration, #cryptocurrency watchers believe it is gearing up for a major victory over cryptocurrency candidate Donald Trump on May 11.
The Biden administration, backed by the U. S. Securities and Exchange Commission, has been heavy-handed in its policies and lawsuits against cryptocurrency companies, which has severely limited cryptocurrency innovation.
In contrast, Trump has positioned himself as the savior of the crypto industry as the former US president has called for an end to Americans' hostility towards cryptocurrencies.
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