2024

Gary

<ul class="wp-block-list">
  
 <li>The SEC collected a record $8.2 billion in fines for 2024 but faced criticism for stifling crypto innovation with unclear regulations.</li>   
 <li>Ripple advances despite SEC pressure, with XRP futures hitting $2.5B open interest and a new tokenized fund on XRPL with Archax.</li>   
 <li>SEC's enforcement cases dropped 26%, yet critics argue its focus on penalties over clarity hampers trust and crypto sector growth.</li> 
</ul>   
<p>The U.S. Securities and Exchange Commission <a href="https://t.co/kOnjxYRqJK" target="_blank" rel="noreferrer noopener">revealed</a> $8.2 billion collected in fines and penalties in 2024. Despite being the highest ever, there were 26% fewer enforcement cases than in 2023. Stuart Alderoty, Ripple's attorney, blasted the SEC for concentrating too much on penalties rather than providing precise guidelines for the cryptocurrency sector.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/s_alderoty/status/1861224587612045427 
 </div>
</figure>   
<h2 class="wp-block-heading" id="h-sec-enforcement-boast-or-burden">SEC Enforcement: Boast or Burden?</h2>   
<p>The SEC pursued 583 enforcement cases, including 431 standalone actions, reflecting a 14% decrease from last year. Significantly, a large portion of the financial remedies stemmed from high-profile cases, like the one against Terraform Labs.</p>   
<p>However, Alderoty and others argue the <a href="https://cryptonewsland.com/gop-lawmakers-question-sec-over-prometheum-ethereum-custody-services/" target="_blank" rel="noreferrer noopener sponsored nofollow">SEC’s aggressive stance</a> harms rather than protects investors. Critics assert the agency prioritizes enforcement over fostering clarity, impacting innovation in crypto.</p>   
<p>SEC Chair Gary Gensler praised the initiatives, saying they support the integrity of the capital market. However, Gensler was dubbed the "worst SEC Chair" in American history by a number of stakeholders, including investors. The continuing discussion highlights the growing hostility between <a href="https://cryptonewsland.com/dubai-court-allows-salary-payments-in-crypto/" target="_blank" rel="noreferrer noopener sponsored nofollow">authorities and the cryptocurrency sector</a>.</p>   
<h3 class="wp-block-heading" id="h-ripple-s-strategic-moves-amid-regulatory-pressure"><strong>Ripple’s Strategic Moves Amid Regulatory Pressure</strong></h3>   
<p>Ripple keeps growing its fintech reach in spite of regulatory scrutiny. It recently <a href="https://archax.com/insights/archax-provides-access-to-abrdn-money-market-fund-on-the-xrp-ledger-in-collaboration-with-ripple" target="_blank" rel="noreferrer noopener">collaborated</a> with Abrdn and Archax to launch a tokenized money market fund on XRPL. Moreover, Ripple’s native token, XRP, has gained momentum among traders and whales.</p>   
<p>Notably, XRP futures’ open interest surpassed $2.5 billion, fueling speculation of a rally to $20. However, the token saw a 10% drop recently, trading at <a href="https://coinmarketcap.com/currencies/xrp/">$1.33</a>. Ripple’s proactive strategies suggest its determination to innovate despite regulatory headwinds.</p>   
<p>The SEC’s enforcement actions show its <a href="https://cryptonewsland.com/sec-launches-interagency-council-to-combat/" target="_blank" rel="noreferrer noopener sponsored nofollow">focus on combating securities fraud</a>. However, critics believe its aggressive approach hinders innovation and investor confidence. Meanwhile, Ripple’s resilience amid these challenges indicates the crypto sector's adaptability.</p> 
<p>The post <a href="https://cryptonewsland.com/ripple-criticizes-sec-amid-record-enforcement-actions-and-crypto-tensions/">Ripple Criticizes SEC Amid Record Enforcement Actions and Crypto Tensions</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Ripple Criticizes SEC Amid Record Enforcement Actions and Crypto Tensions

Table of Contents

Crypto News Land

Other articles published on Nov 27, 2024

DIA Pioneers Modular Oracles with Lasernet Testnet Launch

From Q1 peak to Q3 dip: Tracing Nigeria’s ICT sector contribution to GDP in 2024

Analysts Predict Solana (SOL) Price Surge: Analysis Points to $325-$500 Range

Trump’s Crypto Promise: SEC’s Future Under Paul Atkins Revealed!

Next Cryptocurrency to Explode, 26 November — Golem, UNUS SED LEO, Echelon Prime, Fasttoken

Line to Launch 30 Mini Dapps in Early 2024, Expanding Blockchain Integration

Join our free newsletter for daily crypto updates!