Gary Gensler, Chairman of the US Securities and Exchange Commission He declined to say whether his agency would appeal a ruling in last week’s case against Ripple Labs, or how long the commission’s decision to appeal would be.
But Gensler echoed parts of the summary judgment while speaking to reporters after his appearance before the Senate Appropriations Committee, saying:
“As part of the ruling involving institutional investors, Howey’s analysis applies to those sales to institutions,” he said, referring to the often-cited legal precedent that helps determine certain disclosure-required securities investments in the United States.
When asked about whether to interpret the crypto industry’s ruling as a rejection of the SEC’s approach to examining digital assets, Gensler replied, “I have no comment on that.”
Gensler also declined to comment on whether Ripple’s ruling would cause the board to temporarily halt litigation against other crypto firms. until the appeal is terminated.
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