• Biden Gensler run SEC
    Cryptocurrencies,  Politics,  Regulation

    Biden makes it official: Gary Gensler will run SEC

    The MIT professor spearheading crypto and finance collaboration will lead the Securities and Exchange Commission, President-elect Joe Biden confirmed

    In a Jan. 18 announcement, the Biden Transition Team highlighted Gensler’s history of leading financial markets reform going back more than 20 years. This included two years as senior advisor to Sen. Paul Sarbanes (D-MD) in writing the Sarbanes-Oxley Act, a major financial reform bill that came in the wake of a number of major financial scandals, including Enron.

  • Ripple Malaysia Bangladesh remittances
    Ripple,  XRP

    Ripple wins contract to power Malaysia-Bangladesh remittances

    The partnership between Malaysia’s Mobile Money and Bangladesh’s top remittance service, bKash, comes despite an SEC lawsuit causing Ripple problems in the U.S.

    Malaysian mobile finance firm Mobile Money will connect with Bangladesh’s largest mobile financial services provider bKash—and its 45 million customers—via the RippleNet system. The partnership comes at a good time for Ripple, which is struggling with a lawsuit by the U.S. Securities and Exchange Commission.

  • Grayscale liquidating XRP Trust
    Ripple,  XRP

    Citing SEC lawsuit, Grayscale liquidating XRP Trust

    Grayscale Investments said the move was a result of the SEC’s securities lawsuit against Ripple, but cited concerns it would have difficulty selling XRP rather than legal concerns

    “In response to the SEC’s action, certain significant market participants have announced measures, including the delisting of XRP from major digital asset trading platforms,” Grayscale said. As a result, the firm came to the “conclusion that it is likely to be increasingly difficult for U.S. investors, including the Trust, to convert XRP into U.S. dollars, and therefore continue the Trust’s operations.”

  • Gary Gensler at the SEC
    Cryptocurrencies,  Regulation,  Ripple,  XRP

    Gary Gensler at the SEC: Will he be a friend to the crypto industry?

    Although he’s written passionately about digital assets in the past, he’s previously said that most cryptocurrencies sold through ICOs are securities

    If appointed, his tenure at the SEC would likely be considerably different than Jay Clayton’s, whose legacy has been tainted by a considerable lack of regulatory certainty surrounding digital assets—much to the exasperation of the cryptocurrency innovators and investors, as well as some regulators like SEC Commissioner Hester “Crypto Mom” Peirce.