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NEW: SEC Commissioner Peirce reflects on a culture change at the SEC as more crypto investigations are dropped: "Responsibility first lies within the industry." But after FTX, BlockFi, Celsius, Voyager, Terra, Genesis, 3AC can the crypto industry really regulate itself? https://t.co/KODj8fsJWb
Interesting perspective from law firm @FoleyandLardner… “The most important development from approval order was SEC heavily implying ETH is commodity & not security.” “Approval order demonstrates crypto assets can start life as security & transition to commodity over time.” https://t.co/uwIhzApDmp
ANOTHER SEC SETBACK IN XRP CASE: WHAT IT MEANS FOR CRYPTO The SEC just hit another wall in the XRP lawsuit, with the judge rejecting their push to control corporate cybersecurity. MetaLawMan’s sharp critique of Gensler is gaining traction among Ripple supporters. This… https://t.co/cEN2fG6fC7
The SEC has faced another defeat in its ongoing lawsuit against Ripple's XRP, with a judge rejecting the agency's attempt to assert control over corporate cybersecurity. This decision has been met with significant criticism from MetaLawMan, reflecting the frustration among Ripple supporters. MetaLawMan’s sharp critique of SEC Chair Gary Gensler highlights the broader discontent within the crypto community. The ruling marks a notable setback for Gensler, as it undermines the agency's efforts to regulate the cryptocurrency industry more strictly.