Main navigation

New Petition Urges SEC Chair Nominee Gary Gensler to Drop Ripple Lawsuit

News
Wed, 04/07/2021 - 19:12
article image
Alex Dovbnya
The XRP Army is already trying to court Gary Gensler even before his confirmation
New Petition Urges SEC Chair Nominee Gary Gensler to Drop Ripple Lawsuit
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Crypto & Policy founder Thomas Hodge has created a Change.org petition that urges Gary Gensler, who will likely be confirmed as the next chairman of the U.S. Securities and Exchange Commission, to drop the blockbuster lawsuit against distributed ledger company Ripple:  

End the Ripple lawsuit and stop the SEC from making up cryptocurrency rules through lawsuits in place of writing these rules properly, with public input and partnership with the U.S. Congress.

Hodge accuses the agency of trying to silence XRP voices while pushing a baseless conspiracy about ex-SEC boss Jay Clayton and William Hinman, the former director of the agency’s division of corporation finance, advancing China’s interests.      

He states that Gensler has to sit down with the holders of the controversial token and hear their “stories”:    

Gary Gensler must end this practice of making policy through lawsuits, sit down with XRP holders themselves and listen to their stories.

The petition has so far racked up 693 signatures since its launch.

Related
XRP Holders Want to Intervene in SEC vs. Ripple Case as Third-Party Defendant

A long shot

As reported by U.Today, Ripple CEO Brad Garlinghouse—who also acts as a defendant in the lawsuit—mentioned that he was hoping to “revisit” settlement conversations with Gensler whose nomination is yet to confirmed by the full Senate.   

Back in 2018, Gensler claimed that XRP was “a non-compliant security.” It remains to be seen whether his views have changed since then.    

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.