SEC Commissioner Criticizes Ripple Deal

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SEC Commissioner Caroline Crenshaw has criticized the agency’s recent settlement with Ripple Labs, highlighting it as a setback in effective crypto enforcement that leaves investors vulnerable.

“This settlement, along with the dismantling of the SEC’s crypto enforcement program, does a significant disservice to the investing public and undermines the court’s role in interpreting securities laws,” she stated after the announcement.

The Securities and Exchange Commission announced on Thursday that Ripple and its top two executives would pay $50 million to settle the case, which was initially filed in 2020 under then-Chair Jay Clayton.

The SEC had accused Ripple of raising capital through the unregistered sale of XRP tokens, depriving investors of essential disclosures.