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Cryptocurrency News Articles

Ripple Vs. SEC: Jeremy Hogan Critiques SEC’s $2 Billion Claim

Mar 27, 2024 at 11:20 pm

Legal expert Jeremy Hogan critiques the SEC's $2 billion claim against Ripple, questioning its fairness. He argues that the hefty fine could harm retail investors, undermining the agency's mission to protect them. Hogan's concerns raise doubts about the SEC's priorities, suggesting institutional investors may benefit at the expense of individuals.

Ripple Vs. SEC: Jeremy Hogan Critiques SEC’s $2 Billion Claim

SEC's Heavy-Handed Tactics: Ripple and Retail Investors Bear the Brunt

Is the SEC's $2 Billion Fine of Ripple Fair Play?

Legal eagle Jeremy Hogan has slammed the SEC's hefty fine of $2 billion on Ripple Labs, questioning its alignment with the agency's mission of protecting investors. Hogan argues that such a penalty would force Ripple to unload a significant chunk of XRP, potentially crushing retail holders' investments.

Does the SEC Value Institutional Investors Over Retail?

Hogan's criticism highlights the SEC's questionable attitude towards Ripple, which appears to harm retail investors, the very people it's supposed to safeguard. The proposed redistribution of the fine raises concerns that institutional holders could benefit at the expense of individual investors, casting doubt on the SEC's effectiveness in protecting the general investor population.

SEC's Enforcement Dampens Ripple Token Value

The SEC's allegations against Ripple Labs, accusing it of harming investors and market stability, have triggered a hefty penalty package. Critics like Hogan argue that imposing traditional regulations on cryptocurrencies, like XRP, could have unintended consequences. Ripple's forced sale of XRP to cover the fine would likely depress its value, potentially harming the investors the SEC aims to protect.

Is the SEC's Outdated Regulation Stifling Crypto Innovation?

Ripple advocate and Senate candidate John Deaton has joined the chorus of voices criticizing the SEC's regulatory approach. Deaton points to the Securities Exchange Act of 1934 and its focus on investor safeguards in the aftermath of the 1929 crash. While acknowledging the SEC's historical mission, Deaton contends that it needs to embrace technological advancements like blockchain and cryptocurrencies.

Time for a Regulatory Revamp: Deaton Calls on SEC to Modernize

Deaton's call for a regulatory overhaul reflects the growing frustration with the SEC's application of outdated laws to digital assets. He emphasizes that with a significant portion of Americans now owning cryptocurrencies, the agency must evolve its strategies to address the realities of today's market. His demand for SEC Chairman Gary Gensler's resignation underscores the urgency for a regulatory framework that fosters innovation in the cryptocurrency space.

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Other articles published on Jan 10, 2025