Gary Gensler Freezes During Interview Question On XRP Lawsuit

Also Read: Bitcoin Rallies Over Deutsche Bank Crypto Custody Move; BTC To Break $26,800?

Gary Gensler Response On XRP Lawsuit Ruling

During an interview with Better Markets, Gensler was asked about the SEC’s recent court losses to Ripple and Grayscale. Initially, Gensler reiterated his anti-crypto stance by saying the crypto industry “runs past the law.” In response, the interviewer said the crypto companies (Ripple and Grayscale) seem to be finding some sympathetic judges. This led to Gensler’s awkward silence thereafter, in apparent acknowledgment of the two setbacks in the Court.

Thanks to the Grayscale lawsuit ruling to grant the company’s motion to convert its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF, the spot ETF applications by the likes of Blackrock, Fidelity and Bitwise could be getting a decision sooner than anticipated. Earlier, CoinGape reported Gary Gensler comment that the SEC was yet to take a decision on the court order related to Grayscale, when quizzed about it during a Congressional hearing before the US Senate Committee on Banking, Housing, and Urban Affairs.

Not The SEC’s Views

In the context of the Ripple lawsuit setback, Gary Gensler has been diverting questions around crypto lawsuits that such decisions are made by the Commission as a whole and not unilaterally. This was a sharp shift from his stance of aggressive anti-crypto statements he made in the past. During the Congressional hearing, he explained that the decision on the many spot Bitcoin ETFs would be taken by all the SEC Commissioners together.

Also Read: Circle Launches Native USDC On NEAR Protocol