- Gasparino criticizes SEC’s focus on Ripple amid other financial scandals.
- Ripple was forced to move operations abroad due to unclear U.S. crypto regulations.
- Gasparino warns that the judge’s ruling may reduce protections for retail investors.
Charles Gasparino, a reporter at FOX Business, has voiced concerns over the U.S. Securities and Exchange Commission’s (SEC) ongoing legal fight with Ripple, the company behind XRP.
In an interview with Anthony Pompliano, Gasparino criticized SEC’s excessive iron-hand approach on Ripple while it is favorable to others. He further emphasized the unclear regulatory environment surrounding crypto assets and how it hindered Ripple’s operations.
Gasparino discussed the SEC’s decision to target Ripple and XRP, while other high-profile financial scandals, like the case involving Sam Bankman-Fried, were allowed to unfold with less regulatory scrutiny.
Further, he questioned the fairness of the SEC’s approach, suggesting that Ripple was unfairly singled out while other cases of financial misconduct with broader implications received less attention.
Additionally, Gasparino noted that Ripple’s innovative technology, which powers XRP, has been forced to shift its operations abroad due to the lack of clear regulatory guidelines within the United States.
Read also: Why Ripple’s SEC Lawsuit Might Be a Strategic Masterstroke
Controversial Ruling: SEC vs. Retail Investors
A key point of the case was the Judge’s ruling which stated that Ripple was not required to disclose certain information to retail investors, though it was expected to provide disclosure to institutional investors.
Gasparino criticized the ruling, describing it as ‘idiotic’ and warned that it set a troubling precedent. He later added that the decision could reduce protection for everyday consumers, which he views as a dangerous outcome for the crypto market.
Despite the judge ruling in favor of Ripple, the concern about the future of XRP remains high. Further, . Gasparino criticized the ongoing legal struggle’s impact on Ripple’s ability to grow and expand in the U.S. market, calling for a balanced and transparent regulatory approach to boost the crypto industry.
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