Stuart Alderoty, Ripple’s CLO calls SEC chair Gensler in the wake of rumors about a spot Ethereum ETF. “struggling political liability,” SEC actions could be motivated by political motivations
The Securities and Exchange Commission of the United States (SECStuart Alderoty (Ripple Chief Legal Officer) suggests Gary Gensler’s position is at risk by becoming an SEC chair. “struggling political liability.”
The following are some of the ways to get in touch with us an X post Alderoty criticised Gensler’s approach on May 22. “he thought crypto was an easy target,” But eventually “overplayed his hand.” Alderoty made the statement amid reports that SEC could approve a spot Ethereum ETF (Exchange-Traded Fund).ETFMany in the crypto-industry and outside of it perceive this as an attempt to win over voters.
Chris Brummer Professor of Law at Georgetown’s Institute of International Economic Law. an X postThis could be “the first time the SEC has become a subject of presidential politics.”
“I don’t recall ever a presidential candidate mentioning the Chair of the SEC by name. I also don’t remember a sitting President threatening preemptively to veto Congressional legislation about the SEC.”
Chris Brummer
Norman Wooding, CEO and co-founder of the Swiss-based and regulated Crypto.news commented on this. financial SCRYPT is a service provider that said that if the application was approved, it would be a good indication of what to expect. “catalyst for other crypto-related products and innovations,” The approval is added “would likely attract a larger pool of institutional investors, driving significant capital inflows into Ethereum and potentially boosting the entire altcoin market.”
Despite the SEC previously refusing to approve new spot ETFs related to crypto, speculations about the Ethereum ETF have gained ground. The Biden administration’s competition with former President Donald Trump intensified as a result of this development, especially in terms of their differing approaches to cryptocurrency regulation.
The clash of ideologies between the two sides is intensifying as the elections for 2024 approach. Trump’s crypto-friendly stance Biden’s hesitation becomes the focal point of a hotly contested political fight. Biden has made it clear that it is not going to be a problem. remains steadfast As the SEC prepares to possibly approve Ethereum ETFs on a spot basis in the upcoming weeks, crypto voters seem to be increasing their pressure to adhere to SEC’s position.
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Source: crypto.news