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“SEC Shall Take Some Losses From Time to Time”- SEC Chair Gary Gensler

U.S. SEC Cheif Gary Gensler recent interview is again a topic of debate in crypto world as his statements have sent some mixed-signals. In this latest interview with Jon Stewart, Mr. Gensler has talked about accountability, court cases and even taking some losses. SEC head was very vocal about the federal policies, made some comments regarding some famous cases in recent times.

Is SEC is losing its ability to keep up?

In an episode of ‘Can we fix the stock market?’ with Jon Stewart, Gary Gensler clears the air about the commission’s policy and approach. Here’s few interesting moments from the interview.

Jon Stewart said It doesn’t seem like the SEC has the ability to keep up, and asked ‘Is there anything that you would think could bring more teeth to the SEC, in terms of accountability?’

SEC Chief said ‘I think what we can do is bring important cases, that are sort of high profile cases, that show peop “No, you’re over the line.” It could be accounting fraud. It could be insider trading.

Take some losses from time to time, says Gensler

But is there something that would be more, of a deterrent? Stewart added,

More of a deterrent is bars where individuals. There’s nothing like individual accountability to send a deterrent across the whole market. If somebody is held accountable. We only have civil law enforcement, but that means barring them from the industry, Gary replied

Asserting the approach of the commission, SEC Cheif said, ‘This agency has to be willing to go into court, and, you know, take some losses from time to time. But go into court. I think all of those things, but it’s trying to use high-profile cases to bring folks back on the right side of the line.’

SEC Cheif Gary Gensler’s this statement has aroused curiosity among the investors.

Is a Ripple win on cards?

Ripple has been fighting a very long legal battle against the SEC and it seems like closure is near. In the court proceedings, the SEC is lagging behind and seem to be using delay tactics. On the other hand, Ripple has an edge after court granted discovery to important documents and discussions in the XRP Vs SEC case. .

However, Gensler’s talking about popular cases, going to the court, and taking losses can be taken as a hint towards the upcoming development into several cases. What do you think?

In another interview, when asked about SEC chief’s above comments, Ripple CEO Brad Garlinghouse said,

“I don’t know what he was saying, but he did say hey we are going to lose and we are okay with that”

He also said he is expecting some important decisions from court soon. He alleged that in his meetings with Mr. Clayton and other officials at SEC no one ever mentioned that XRP may be a security.

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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