Ripple vs SEC took a new turn on November 8. ASA chief Chris Lacovella wants SEC boss Gary Gensler gone. Fox Business’ Eleanor Terrett first reported the news. The crypto expert demands came as more industry leaders joined the fight. Now the entire crypto world wants answers, and yes, this includes us at Watcher Guru.
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Crypto Expert Demands SEC Chair Resignation Amid Ripple Controversy
ASA Takes Bold Action
The ASA leads more than 100 financial firms, and all of them are ready for change. Lacovella said it without thinking twice:
“The people voted for this country to take a new direction, and Chairman Gensler should respect that vote by stepping down from his position immediately.”
As expected, the message I mentioned above hit hard. The result? No more business as usual at the SEC.
Market Players Rally Behind The Call About Ripple vs SEC
As expected, the news spread like wildfire. While exploring the topic, one X post caught our attention.
He said:
“Gensler must go immediately! After trying to regulate cryptocurrency, he proved that he doesn’t understand how the market works and is only undermining trust.”
The Ripple vs SEC case pushed many to pick sides. Now they’re not afraid to say which one.
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Gensler’s Rocky Road
Source: Social Capital Markets SEC Crypto Report
Since 2021, crypto expert demands have kept coming. The SEC’s answer? More lawsuits and fewer guidelines. Companies have started leaving the U.S. market. Others have stopped trying new things. Money firms say they can’t work like this anymore.
Source: Social Capital Markets SEC Crypto Report
What This Means Going Forward
The ASA just opened the floodgates and we can expect some water to come as a result. Small banks started speaking up about the topic. At the same time, big traders joined in on the discussion. Even Wall Street’s watching closer now, and they have every reason to.
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Some crypto firms say this could fix how America handles digital money, but it remains to be seen. More other groups might join the fight soon, so we’ll keep you updated!
