News - First statement after statement: Gary Gensler "disappointed" with Ripple win

By Luc Vesters

First statement after statement: Gary Gensler "disappointed" with Ripple win

SEC boss Gary Gensler is speaking out for the first time since Ripple's victory. He said he was "disappointed" with the judge's decision that the XRP token was not a security when it was sold to retail investors.

"While we are disappointed in what you said about small investors, we will take another look at it and evaluate that opinion," Gensler said during an event at the National Press Club on July 17. It is visibly difficult for Gensler to categorize the defeat. He was "pleased" with the decision to recognize the "protection of institutional investors."

The SEC accused Ripple of illegally raising $1.3 billion by selling the cryptocurrency XRP. These should have been registered with authorities as securities. However, Judge Analisa Torres of the Southern District of New York ruled that the sale of XRP on the secondary market was not a securitization transaction. The SEC is cracking down on the crypto industry. In recent months, the U.S. Securities and Exchange Commission has poured out a wave of lawsuits on the crypto sector.

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