18 Days Until Gensler Steps Down, Pro-XRP Lawyer Says ‘Too Long
Current SEC Chairman Gary Gensler, a former Goldman Sachs executive, is resigning and President Trump’s pick, Paul Atkins, is set to take over. Gensler has always taken a tough stance on cryptocurrencies, while Atkins, on the other hand, believes in letting free markets flourish and views cryptocurrencies as revolutionary technology.
John Deaton, a lawyer who supports XRP, mocked the news of Gensler’s resignation from the SEC, saying it “takes too long.” Deaton has been an outspoken critic of Gensler’s approach to cryptocurrencies, particularly when it comes to XRP. His comments reflect the frustration many in the crypto community have felt under Gensler’s leadership, particularly his stance on cryptocurrency regulation.
Could Atkins be a game changer?
Under Atkins, the SEC may take a less aggressive stance toward cryptocurrencies, encouraging a more favorable environment for the industry. The change has triggered a rise in cryptocurrency prices, with investors hoping for more institutional participation.
Politically, some see Atkins’ appointment as an indication of how the crypto industry can influence regulators. While Gensler supports stricter ESG regulations, Atkins is skeptical of government involvement in such matters, which could mean there is less pressure on companies to meet ESG standards in the future. The long-term impact of these changes remains to be seen.
Will XRP price react?
Following the news of the resignation of U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, XRP surged to $1.50, a 20% increase, reaching its highest price in the past three years. The momentum continued, pushing XRP above $2.70 in the coming weeks. As of now, XRP is trading at $2.42. The question now is: will this boost last, and can XRP hit a new all-time high following Gensler’s resignation?
