Calling the suit indicative of what was wrong with the agency’s treatment of cryptocurrencies under now-departed Chairman Jay Clayton, Hall called on Gary Gensler, the recently nominated SEC chairman who is currently a professor teaching digital assets and blockchain at MIT, to use the suit to “chart a different course” in its treatment of cryptocurrencies.
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Michael Barr taught financial regulation at the University of Michigan and co-founded its International Transactions Clinic (Photo: University of Michigan)Ripple advisor Michael Barr to be named Comptroller of the Currency: Report
The former member of the international payments firm’s advisory board could become the nation’s second ‘fintech comptroller’
That would mean that the Biden Administration’s Comptroller of the Currency would have an affiliation with Ripple, a company being sued by the U.S. Securities and Exchange Commission for illegally selling an unregistered security—XRP—for a period of more than seven years.
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An SEC lawsuit didn't stop Ripple from scoring a partnership with Malaysian and Bangladeshi mobile payment firms (Photo: bKash)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.
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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.”
