Ripple CLO: Gary Gensler Has Become a "Tricky Political Burden" for U.S. Authorities
PANews reported on May 22 that, according to The Block, as the hype around the potential approval of an Ethereum spot ETF intensifies, Ripple's Chief Legal Officer Stuart Alderoty described SEC Chairman Gary Gensler as "a tricky burden."
In response to discussions about the SEC becoming a hot topic before the elections, Alderoty wrote on X: "Gensler has overplayed his hand. He sees crypto as an easy target and enjoys being the person everyone loves to hate. He believes he is above congressional oversight. Those days are over. He is now a tricky political burden." This view continues the Democrats' clear and sudden shift in attitude towards cryptocurrency ahead of the November elections.
Some claim that the SEC's sudden request for exchanges to amend their Ethereum spot ETF filing indicates its desire to appear more crypto-friendly as the industry plays an increasingly important role in garnering votes. A person familiar with the matter stated: "This is an entirely unprecedented situation, which means this is purely a political issue," specifically referring to the agency's sudden request for amendments. This view was underscored by yesterday's news that former U.S. President and current Republican candidate Trump's campaign team is now embracing cryptocurrency.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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