The post James Murphy Criticizes SEC Over Using ‘Digital Asset Securities’ Yet Again appeared on BitcoinEthereumNews.com.

With a most anticipated Trump win in the US elections this season, there are high expectations of clear regulatory policies for crypto under Trump, as he had voiced similar sentiments during his campaigns including Gary Gensler’s exit and the establishment of a strategic Bitcoin reserve.  However, recently, Gary Gensler in a PLI’s 56th Annual Institute speech last week, restated that Bitcoin is not a security. He also cleared intent to continue targeting XRP as security, as he didn’t mention it along with “Bitcoin, ether, and stablecoins.” “Our focus, rather, has been on some of the 10,000 or so other digital assets, many of which courts have ruled were offered or sold as securities. Putting this in context, aside from bitcoin, ether, and stablecoins, the rest of this market approximates $600 billion,” he had noted.  Furthermore, the US SEC has also hinted at continuing to argue ‘digital asset securities’ amidst the appeal in the Second Circuit Court.  James Murphy Criticizes SEC Notably, in a latest X post, James Murphy, a crypto lawyer criticized the SEC for using the term ‘Digital Asset Securities’ yet again in its recent X post. The agency also failed to comply with its recent apology for using the term “crypto asset securities” in lawsuits. The crypto community is increasingly calling out for the dismissal of the long-running Ripple SEC lawsuit. The Ripple CEO Brad Garlinghouse also stated that he is expecting a resolution or end of the SEC lawsuit after Trump’s win. Besides, Lawyer Bill Morgan has noted that the price of XRP is not influenced by Ripple’s efforts as seen by long-term investors.  Who Should Be The Next SEC Chair? While Gensler’s departure from the SEC would prove highly beneficial for XRP, Trump’s choice for the agency’s top spot is also essential. Attorney John E. Deaton…

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Filed under: News - @ November 21, 2024 10:23 pm