SEC Puts More Pressure on Ripple Despite New Chairman
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The US Securities and Exchanges Commission (SEC) is intensifying pressure on Ripple in the court battle despite the new Chairman, Bloomberg reports. On Wednesday, the watchdog asked a federal judge to block Ripple’s demands to reveal internal emails and communications on officials’ personal devices.

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"The move signals that the SEC is pushing ahead with its December suit allegedly Ripple sold the XRP digital token without properly registering it as a security," Bloomberg said.

Last Wednesday, the Senate confirmed Gary Gensler as new Chairman of the SEC. Gensler was picked by President Joe Biden in January this year. He will serve as SEC chair for the next five years.

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While serving as chairman of the CFTC, Gensler reorganized the watchdog efforts of the 700-person agency. He also led the effort to pass and implement comprehensive oversight of the $400 trillion swaps market, a form of OTC derivative that was at the center of the 2008 financial crisis.

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