Ripple CEO and SEC Chairman to discuss crypto regulation at DC Fintech Week
Investing.com | Editor Hari G
Published Nov 04, 2023 05:34AM ET
Ripple CEO Brad Garlinghouse and SEC Chairman Gary Gensler are slated to be keynote speakers at the upcoming DC Fintech Week, scheduled from November 6-9, 2023. The announcement by the Bank for International Settlements (BIS) has stirred excitement within the cryptocurrency community, given the recent developments in the longstanding legal dispute between Ripple and the SEC.
In a surprising turn of events, Ripple's legal battle against the SEC took a favorable turn when the court ruled in July that XRP wasn't a security when sold to the general public, but only when sold to institutional investors. This ruling clarified XRP's status, which had been in question since 2020 when the SEC declared that XRP, which had raised over $1.3 billion via an unregistered security offering in 2013, was a security and not a currency.
Following this partial legal victory, the SEC retracted their allegations against Garlinghouse and Ripple's executive chairman Chris Larsen in October. This move has led to heightened expectations for potential discussions on cryptocurrency regulation during DC Fintech Week.
The ongoing SEC lawsuit against Ripple for unregistered XRP sales remains a topic of interest within the crypto community. However, Ripple's demonstrated willingness to settle and the recent dropping of charges against its executives have fueled anticipation for a possible confrontation between Garlinghouse and Gensler on stage.
In an amusing side note, XRP lawyer John E Deaton has expressed his desire to moderate this anticipated event, promising it would attract a large audience.
Garlinghouse is expected to critique the SEC's ambiguous crypto guidelines and discuss the future of cryptocurrency regulation in the US, given Ripple's legal victory against the regulator. These discussions are likely to shape significant conversations on cryptocurrency regulation during DC Fintech Week.
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