The US Securities and Exchange Commission (SEC) charges against Ripple are untenable. This opinion was expressed by the editorial board of The Wall Street Journal (WSJ).
In the author’s column, the editorial board stated that the lack of a clear position on the crypto market poses a threat to investors. The editorial board also added that they expect a clearer position from the regulator under the new head Gary Gensler.
“The next step for the SEC must be to acknowledge the harm of its current selective approach,” the WSJ said.
Investors and developers need to know if their actions are legal in the market before they read the news of the SEC lawsuit, the WSJ said.
Ripple takes a U-turn
The WSJ comments come a week after the US Senate confirmed Gary Gensler as head of the SEC. Prior to that, he chaired the Commodity Futures Trading Commission (CFTC) from 2009 to 2014.
Meanwhile, XRP, Ripple’s token, is booming. At the time of this writing, the price of the token in the XRP / USDT trading pair is $ 1.52 (+ 9.57%).
The market capitalization of the token has grown by $ 6 billion. XRP has grown by 11% over the past seven days. The local victories of the Ripple management in the court against the SEC played the most positively on the price of the token.
For example, a US court previously denied the SEC a request for bank statements from the founders of the company. The regulator wanted detailed bank statements from Ripple executives over the past eight years.
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