XRP Jumps 20% Amid SEC’s Major Policy Change on Crypto Investigations
On Monday, February 3rd, the US Securities and Exchange Commission (SEC) implemented a new policy that can slow down its investigation related to encryption. According to ReutersSources familiar with the matter show that lawyers of SEC must now be approved by political appointment leaders before they are officially launched. This change marks the changes in SEC’s previous procedures and have been led by the agency after the government of President Donald Trump.
Generally, the SEC is supervised by five commissioners including the chairman, although there are only three members of the committee-two Republicans and one Democrat. The commissioner is appointed by the president. The agency recently saw the departure of former chairman Gary Gensler and Democratic compatriots Jaimelizárraga. At present, the acting chairman Mark Uyeda is officially confirmed until Paul Atkins, nominated by Trump, was officially confirmed by Trump.
Former SEC lawyer Marc Fagel responded to this, “I participated in the policy to allow the official authority to be awarded staff issued by the formal order promulgated after the McDonary collapse. Therefore, the response to Madoff was” SEC should be slower “, this is good news.”
In this news, XRP has soared by 19.90 % in the past 24 hours, and previously fell to a low of $ 2.14, reaching $ 2.14, reaching $ 2.78. After the US President Donald Trump announced that it was driven by Mexico, Canada and China, the value of XRP value was driven by concerns about the trade war. However, analysts now show that this decline may create a solid foundation for the potential strong recovery of the next few days.
