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coinpedia 2024-12-28 02:12:25

XRP News: Gasparino Calls Ripple’s SEC Regulation ‘Needless’ and Judge Torres’ Ruling ‘Idiotic’

The post XRP News: Gasparino Calls Ripple’s SEC Regulation ‘Needless’ and Judge Torres’ Ruling ‘Idiotic’ appeared first on Coinpedia Fintech News Charlie Gasparino, a New York Post columnist and FOX Business Senior Correspondent, shared his thoughts on the regulation of Ripple, expressing that he always believed the scrutiny on the company and its cryptocurrency XRP was unnecessary. In an interview with Anthony Pompliano, he pointed out that while the SEC was targeting Ripple, other high-profile figures like Sam Bankman-Fried were involved in serious financial misconduct without facing similar regulatory pressure. Gasparino argued that this was an example of regulatory overreach. He also said that Ripple’s technology, which underlies XRP, has potential but is now forced to operate overseas due to the lack of clear regulations in the U.S. The SEC’s legal actions have created uncertainty, and even after a judge made a decision in favor of Ripple, Gasparino criticized the ruling. “So they ( the SEC) bring the case, they get this judge who says, ‘Oh no, the investors, the retail investors don’t need the disclosure, they’re okay not disclosing to retail, but they should have disclosed it to the institution.’ This idiotic judge didn’t even know that she established precedent that there should be less disclosure for retail,” he said The judge had decided that Ripple did not need to disclose information to retail investors but should have disclosed it to institutional investors, a move Gasparino called “stupid.” He said that the ruling created a dangerous precedent for less disclosure for retail investors, explaining the mess that the case had become. Gasparino explained that his interest in Ripple began years earlier when he covered Ethereum’s efforts to establish its own regulatory framework, which led to a viral reaction after a clip of his reporting was shared by a Ripple supporter. Gasparino believes the scrutiny of Ripple and XRP seemed unjust, particularly when compared to the leniency shown to other figures.