{"id":147006,"date":"2025-01-18T13:00:00","date_gmt":"2025-01-18T11:00:00","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=147006"},"modified":"2025-01-17T16:58:18","modified_gmt":"2025-01-17T14:58:18","slug":"gary-gensler-challenges-ripple-ruling-in-final-sec-filing","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/gary-gensler-challenges-ripple-ruling-in-final-sec-filing\/","title":{"rendered":"Gary Gensler Challenges Ripple Ruling in Final SEC Filing"},"content":{"rendered":"

This move<\/a><\/strong>, likely Gensler\u2019s last major action as chairman, revisits the controversial July 2024 ruling that Ripple\u2019s programmatic XRP<\/a> <\/strong>sales to retail investors were not securities offerings.<\/p>\n

The SEC\u2019s appeal, submitted to the Second Circuit, contends that Ripple misled retail investors into believing XRP\u2019s value was tied to Ripple\u2019s efforts, regardless of how the tokens were purchased. Gensler\u2019s team also argues that the Supreme Court\u2019s Howey Test, which defines securities, doesn\u2019t hinge on whether investors know the seller\u2019s identity. Additionally, the appeal emphasizes that XRP\u2019s fungibility means its classification as a security applies uniformly across transactions.<\/p>\n

The Ripple ruling had significant ripple effects, sparking a 60% surge in XRP\u2019s price and fueling perceptions that the SEC\u2019s regulatory authority over cryptocurrencies was weakening. Critics of Gensler used the decision to amplify calls for his resignation, while social media campaigns like #FireGaryGensler further eroded his standing.<\/p>\n