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New Petition Urges SEC Chair Nominee Gary Gensler to Drop Ripple Lawsuit


u.today April 07 2021 19:32, UTC
Reading time: ~2 m

Crypto & Policy founder Thomas Hodge has created a Change.org petition that urges Gary Gensler, who will likely be confirmed as the next chairman of the U.S. Securities and Exchange Commission, to drop the blockbuster lawsuit against distributed ledger company Ripple:  

End the Ripple lawsuit and stop the SEC from making up cryptocurrency rules through lawsuits in place of writing these rules properly, with public input and partnership with the U.S. Congress.

Hodge accuses the agency of trying to silence XRP voices while pushing a baseless conspiracy about ex-SEC boss Jay Clayton and William Hinman, the former director of the agency’s division of corporation finance, advancing China’s interests.      

He states that Gensler has to sit down with the holders of the controversial token and hear their “stories”:    

Gary Gensler must end this practice of making policy through lawsuits, sit down with XRP holders themselves and listen to their stories.

The petition has so far racked up 693 signatures since its launch.

A long shot

As reported by U.Today, Ripple CEO Brad Garlinghouse—who also acts as a defendant in the lawsuit—mentioned that he was hoping to “revisit” settlement conversations with Gensler whose nomination is yet to confirmed by the full Senate.   

Back in 2018, Gensler claimed that XRP was “a non-compliant security.” It remains to be seen whether his views have changed since then.    


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