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>   
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   https://twitter.com/s_alderoty/status/1861224587612045427 
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<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

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