Gensler Testimony Gives XRP Holders Hope in SEC Case
- The congressional hearing has ignited hopes for Ripple in the ongoing SEC lawsuit.
- Gary Gensler has stumbled in his response to many questions on cryptocurrency classification.
- Conflicting views and lack of clarity have been highlighted in regulatory institutions during the hearing.
Amidst the Congressional hearing, where whether cryptocurrencies should be classified as securities or commodities remains a prevalent topic of debate, XRP token holders are finding hope in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple.
During the hearing on SEC oversight, Gary Gensler stumbled when Patrick McHenry, Chairman of the US House Financial Services Committee, asked whether Ethereum (ETH) should be considered a security or a commodity.
McHenry seized the opportunity for a “gotcha” moment by mentioning XRP, further intensifying the debate…
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