US lawmaker calls on SEC chair to reassess stance on crypto following Ripple ruling

New York Rep. Ritchie Torres has known as on United States Securities and Change Fee (SEC) Chair Gary Gensler to rethink the regulator’s place on crypto following a “dreadful day in court docket.”

In a July 18 letter to Gensler, Torres requested the SEC restrict its enforcement instances to “bonafide unhealthy actors” relatively than “indiscriminately” treating the vast majority of crypto property as securities beneath its purview. The lawmaker’s letter adopted a court docket ruling within the SEC’s case in opposition to blockchain agency that urged that the XRP (XRP) token was largely not a safety.

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