US SEC Chairman Reiterates No Appeal Decision on Ripple Ruling

Odaily Planet Daily News US Securities and Exchange Commission (SEC) Chairman Gary Gensler reiterated in an interview with Bloomberg on Thursday that he has not yet made an appeal decision on the summary judgment of the Ripple case. However, he insisted that despite the judge's initial ruling against XRP, the crypto market is still violating securities laws. Gensler recently expressed his disappointment with the XRP ruling. The SEC officially mentioned in the Terraform Labs lawsuit that it intends to conduct further review of the Ripple lawsuit judgment. (Coin Gape) According to previous reports, Gary Gensler refused to say whether the SEC would object to the appeal of the federal judge's divided ruling on the Ripple Labs lawsuit last week, and also refused to disclose the timetable for the SEC to make a decision on whether to appeal. But he told reporters after a Senate Appropriations Committee hearing that he agreed with parts of the federal judge's summary judgment. "Howey's analysis is part of the verdict on institutional investors, applies to institutional sales, we agree with that, less relevant to Howey's analysis on retail sales, still researching," Gensler said. Gensler also declined to comment on whether Ripple's ruling would cause the SEC to suspend litigation with other cryptocurrency companies until the appeal is resolved.