Ripple CEO Brad Garlinghouse revealed at an XRP event in Sydney that he had a private conversation with former SEC Chairman Gary Gensler at the White House.
According to Garlinghouse, Gensler said, “I’m sorry, I was wrong.” There is no official confirmation and Gensler has not commented publicly.
Lawsuit between SEC and Ripple lasted four years
The SEC sued Ripple in 2020 because the regulator considered XRP an unregistered security. The indictment hit the market hard: the XRP price plummeted and several trading platforms temporarily removed the coin from their range.
The case became the most important legal test for crypto regulation in the US. Garlinghouse said in Sydney that those years of struggle had finally paid off.
XRP price down 30% this year
After Gensler’s departure as SEC chairman, the regulator’s attitude towards crypto is said to have changed significantly. Analysts speak of a less aggressive approach and more room for consultation.
Despite everything, the crypto market has been having a hard time lately. The XRP price is around $1.38 and is down about 30% this year.
Source: https://newsbit.nl/ripple-ceo-voormalig-sec-voorzitter-gensler-bood-excuses-aan-in-het-witte-huis/
