SEC Chairman Gary Gensler In the last interview he attended, he gave mixed signals with his statements, and these signals became the subject of discussion in the crypto world. Gensler, who made a new interview with Jon Stewart; He made some statements about liability, lawsuits and even some “losses” to be taken.
While the SEC President frequently comments on federal policies, he does not hesitate to share his views on the cases that are on the agenda from time to time.
Could the SEC Have Beginning to Keep Up?
“Can we fix the stock market?” Gary Gensler shared his views on the commission’s policy and approach.
Jon StewartWhile the SEC doesn’t appear to be able to keep up, “Is there anything you think might bring more dents to the SEC in terms of liability?” posed the question.
Gensler replied, “I think what we can do is respond with important cases, like high-profile cases where people say ‘no, you’re out of line’”. Examples of these cases were accounting fraud or cases of insider trading.
In addition, Gensler explained that “sometimes a little loss has to be taken”. Stewart asked if there was anything that could be a further deterrent. If Gary:
“It’s mostly where there are deterrent individuals. There is nothing like taking individual responsibility for sending deterrence to the entire market. this could work if someone is held accountable. We only enforce the law, but that doesn’t mean kicking them out of the industry.”
Citing the commission’s approach, the SEC chairman said, “This agency has to be willing to go to court and, you know, take some losses from time to time. But he must go to court. I’m thinking about all that but trying to use high-profile cases to bring people back to the right side of the line.”
This statement of the SEC chairman aroused great curiosity among investors.
If SEC Is On The Losing Side, Could Ripple Be On The Winning Side?
Ripple is fighting a very long legal battle against the SEC and it looks like the end of this war is near. In court proceedings, the SEC appears to be lagging behind and using delaying tactics. On the other hand, the court XRP and SEC lawsuitRipple has an advantage after it allows discovery of important documents and discussions in its website.
However, Gensler’s mention of popular lawsuits, going to court and being harmed can be taken as a clue to the upcoming development in several cases. Do you think the president wanted to point out the Ripple case?