The SEC denied the rumors that Chair GaryGensler is leaving! What does this mean for $XRP and the other crypto assets? Read more here -
Rapid disinformation attacks are one of the most significant challenges in the digital ecosystem. This time, the alleged resignation of United States Securities and Exchange Commission chair Gary Gensler took the internet by storm.
Gensler was appointed as the SEC chair in 2021, and his term ends in June 2026. However, the retirement of Senator Ben Cardin of Maryland in 2024 sparked speculations regarding Gensler, who also hails from the mid-Atlantic state, running for the seat. Selkis previously The SEC has already been embroiled in a legal battle with Ripple for over two years now. Besides XRP, the agency hasmore than 60 cryptocurrencies securities and filed legal actions against crypto giants like Coinbase and Binance under Gensler.
Hence, if the newly proposed SEC Stabilization Act is passed, the legislation will essentially dismantle the Chairman position and instead create a new role called the Executive Director. Such a move is aimed at protecting the securities agency from having a political agenda.
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