Originally published at: https://populist.press/sec-ripple-crypto-future-blockchain/
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It seemed like a no-brainer inside the Securities and Exchange Commission last December when the agency filed a lawsuit charging that one of the biggest players in crypto technology, Ripple Labs, violated securities laws. Then-Chairman Jay Clayton signed off on the case just hours before resigning from the SEC following the defeat of Donald Trump in the 2020 presidential election. That made the timing a bit odd, since big decisions in government are usually left to the incoming administration to sort out.But the SEC’s enforcement division has a reputation for being independent, with staff attorneys remaining in their roles no matter who is in power. And the enforcement staff was united in their decision to file, while the five-member commission voted 3–2, FOX Business has learned.Ripple executives had, according to the SEC’s lawsuit, brazenly ignored warnings from the commission that when they sold $1.3 billion worth of XRP, the digital coin used on the Ripple platform, they were violating securities laws because the sales weren’t registered with the commission …
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