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SEC's Ripple appeal makes waves š
The regulator's appeal in its ongoing lawsuit with Ripple sent the price of XRP tumbling.
Stephen Graves
October 03, 2024
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š What you need to know
The U.S. Securities and Exchange Commission (SEC) moved Wednesday to appeal a federal judgeās final judgement in its ongoing lawsuit against crypto firm Ripple over sales of the XRP cryptocurrency.
The regulatorās move sent the price of XRP tumbling, and came just a day after Bitwise filed for an XRP ETFāwith the SEC.
The news came as the SEC announced that Gurbir S. Grewal, director of the regulatorās division of enforcement, would step aside from his role. In his time at the SEC, Grewal has overseen dozens of enforcement actions against crypto firmsāwith the news inevitably prompting speculation that his departure was tied to the agencyās crypto moves.
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š¬ Quote of the Day
āGood to see him packing his bags.ā
