Ripple CTO Challenges SEC to Clear Up Crypto Regulations

The architect behind the XRP Ledger took to Twitter to criticize the SEC for failing to provide clear guidelines on cryptocurrency regulation.

A Wells notice is a formal notification that gives the recipient an opportunity to respond to the allegations before the regulatory agency decides to pursue the case in court. Schwarz's comments came in response to Coinbase's chief legal officer Paul Grewal stating that the SEC needs to provide reasonable rules for crypto in the US, and that Coinbase is willing to follow them. He also said that the SEC has not been fair or reasonable in their engagement on digital assets, and that rulemaking and legislation are better tools for defining the law for the industry than enforcement actions.

JoelKatz SECGov Clear ? No regulations at all.. no power to do what they are doing.still they do (not waiting on outcome court case )and keep doing it till we stand up. Not roll over when they want money because not we do not meet their standards... they have no standards so they can make it up

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XRP cryptocurrency jumps as investors hope Ripple will win legal battle with the SECXRP, a cryptocurrency closely associated with Ripple, surged over 11% on Wednesday as investors grew hopeful the firm would win its legal battle with the SEC. They’re not investors though - just greasy speculators. The P in XRP stands for Ponzi. The founder must have been a Machinist's Mate in the Navy. No. It jumped because there’s an airdrop from a token on the ledger (XCORE) and it’s given free to XRP and Sologenic owners so this is FOMO to get free tokens (some of which will be sold after the airdrop that takes place after the 24th)
Source: CNBC - 🏆 12. / 72 Read more »