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United States President Joe Biden said on Twitter that he is “firmly committed” to holding those responsible for the Silicon Valley Bank and Signature Bank collapse “fully accountable.”
Read Monday's breaking news in the daily digest!
A U.S. lawmaker has announced that he is introducing legislation to remove the Securities and Exchange Commission (SEC) chairman in order to “correct a long series of abuses.” The SEC, under Chair Gary Gensler, has been heavily criticized for its enforcement-centric approach to regulating the crypto industry. Lawmaker Seeks to Remove SEC’s Chairman U.S. Congressman
The post US Lawmaker Introducing Legislation to Remove SEC Chairman Due to ‘Long Series of Abuses’ appeared first on BTC Ethereum Crypto Currency Blog.
U.S. Securities and Exchange Commission Chairman Gary Gensler has stated that the regulator is “disappointed” with the SEC v. Ripple ruling on XRP regarding retail investors. “We are still looking at it and assessing that opinion,” he affirmed. Gensler also reiterated the SEC’s commitment to enforcing regulations on the crypto industry and ensuring compliance among [...]
The post SEC ‘Disappointed’ With XRP Ruling on Retail Investors — Chair Gensler Hints at More Crypto Industry Enforcement appeared first on Crypto Breaking News.
Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that the U.S. Treasury defaulting on its debt obligations “would have very significant, hard to predict, and likely lasting effects on investors, issuers, and markets alike.” Gensler stressed: “We’ve already seen an effect in the pricing and liquidity of short-dated Treasury bills and continue to [...]
The post SEC Chair Warns US Default Would Have ‘Significant’ and ‘Lasting Effects’ on Investors, Markets appeared first on Crypto Breaking News.
On Thursday, the XRP price soared to $1.41, marking its highest trading value in over three years. This surge coincides with a shifting regulatory landscape in the United States, spurred by the anticipated administration of President-elect Donald Trump. During his campaign, Trump pledged to position America as the “crypto capital of the world,” a promise that is beginning to resonate with market participants even before his inauguration on January 20, 2025. Gensler Sets Last Day At SEC For January 20 In recent weeks, the cryptocurrency market has seen a notable uptrend, with Bitcoin leading the charge and achieving consecutive all-time highs. This momentum is in part a response to the positive sentiment surrounding Trump’s pro-crypto promises, which is expected to facilitate a more favorable environment for digital assets. Related Reading: FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors Central to this optimism is the expected departure of Gary Gensler, the current chair of the US Securities and Exchange Commission (SEC). Gensler has been criticized for fostering an unclear regulatory environment that many argue has stifled the growth of cryptocurrencies in the US. For XRP and Ripple Labs, this scrutiny has been particularly pronounced over the past four years under the Biden administration. Trump previously vowed to remove Gensler from his position, a move that many in the crypto community view as a necessary step toward clearer regulations. Yet, on the same day as Trump’s anticipated inauguration, Gensler confirmed that January 20, 2025, will be his last day at the SEC. His resignation preempts what many experts speculated could be a contentious conflict if he remained in office while Trump sought to replace him. XRP Price Surges Nearly 30% In 24 Hours This shift in the regulatory landscape in the US has contributed to a clearer outlook for digital assets, as reflected in XRP price movements. In the past 24 hours alone, XRP recorded gains of nearly 30%, and over the past week, it has increased more than 70%. Crypto analyst Ali Martinez recently shared his views on X (formerly Twitter), stating that Gensler’s exit could be highly beneficial for both Ripple Labs and the XRP price, which he believes is now targeting $2. Related Reading: Ethereum Sees Neutral Netflow On Binance: What Does This Signal? Another analyst, CrediBull, echoed this sentiment, noting that XRP’s monthly Relative Strength Index (RSI) is approaching overbought territory for the first time in three years. The analyst emphasized that a higher RSI typically indicates stronger momentum and bullish prospects for the asset, absent any bearish divergences. CrediBull suggested that the next significant target for XRP is $2, with aspirations for new all-time highs thereafter. Currently, the token’s all-time high stands at $3,040, which was reached nearly seven years ago in January 2018. This means that the XRP price could be in for a massive 150% uptrend in the coming months. Featured image from DALL-E, chart from TradingView.com
A potential shift in crypto regulation could be in the works as the US Securities and Exchange Commission (SEC) Chairman Gary Gensler hints at a possible resignation following President-elect Donald Trump’s recent victory on November 5. SEC Head Gensler Drops Resignation Clue In a recent statement to SEC staff, Gensler hinted at a possible resignation, which led to further discussions about his future as the agency’s head. His remarks, which carried a tone reminiscent of a farewell, expressed gratitude for the opportunity to serve alongside his colleagues, emphasizing the importance of their work in maintaining the integrity of US capital markets. Related Reading: Crypto Analyst Predicts Major Price Crash For Shiba Inu, But Its Not All Bad News The SEC chairman, who has long been criticized for his approach to the crypto industry, also dedicated a portion of the letter to his mom and dad, concluding, Ive been proud to serve with my colleagues at the SEC who work day in and day out to protect American families on the highways of finance. Despite the absence of any official confirmations from either the SEC or Gary Gensler regarding his future, the suggestive tone of his letter has sparked anticipation among crypto investors, hinting at the likelihood of his resignation. Policy Shift Towards Crypto-Friendly US Gensler’s leadership has been marked by numerous enforcement actions, lawsuits and Wells Notices against major players in the crypto space, including Binance, Coinbase and the most notorious case against Ripple Labs, while failing to provide a clear regulatory framework for digital assets. Related Reading: Buy Dogecoin Now Or Wait? Analyst Points To Key Technical Indicator The anticipation surrounding Genslers potential exit is compounded by Trumps promises to create a more favorable environment for cryptocurrencies, positioning the US as the “crypto capital of the world.” Trump’s administration is expected to prioritize policies that support innovation and growth in the digital asset sector, contrasting sharply with Gensler’s regulatory stance. Featured image from DALL-E, chart from TradingView.com
The buzz on Twitter suggests that Coinbase, a leading cryptocurrency exchange, has accused SEC Chairman Gensler of distorting the crypto market.
In recent interviews with DealBook, SEC Chairman Gary Gensler expressed his concerns about the potential risks artificial intelligence (AI) poses to the financial system. (Read More)
Former MIT Sloan School of Management student and teaching assistant for Gary Gensler, known only as 'Kenny' on Twitter, has offered insights into the recently filed lawsuits against Binance and Coinbase by the Securities and Exchange Commission (SEC), as well as his personal journey into the world of blockchain and crypto. (Read More)
Vitalik Buterin, a co-founder of Ethereum, the second largest cryptocurrency project by market cap, took a stance on the recent actions that the U.S. Securities and Exchange Commission (SEC) has taken in the field of enforcement against crypto. Buterin mentioned how projects like Solana were included in these legal actions and stated that the real
The post Ethereum Co-Founder Vitalik Buterin on SEC Crypto Enforcement Actions: ‘The Real Competition Is the Centralized World’ appeared first on BTC Ethereum Crypto Currency Blog.
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