Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), publicly commented on last week’s ruling regarding the agency’s lawsuit against Ripple.
The head of the U.S. Securities and Exchange Commission (SEC) questioned whether the ruling would impact his stance on cryptocurrencies and whether it would “underscore the need for Congress to clarify the regulatory framework for this industry.”
The SEC chairman responded, stating that the SEC was pleased with the court’s ruling that deemed Ripple’s sale of tokens to institutional investors as securities offerings. However, he expressed disappointment with the court’s decision concerning individual investors.
Additionally, the SEC chairman did not address questions regarding the future of Bitcoin ETFs and whether the SEC would approve any pending applications.