The head of the SEC partially agreed with the verdict of the judge regarding Ripple

The chairman of the SEC department said that the Commission was disappointed with the judge's verdict regarding Ripple for retail consumers. However, they are happy with regard to large investors.

What else did the head of the department say

The official noted that his Commission is currently considering and evaluating the judge's decision. He was asked a question regarding the preparation of rules for the cryptocurrency industry. To this he replied that the time has not yet come, as the trials are ongoing. He also made a reminder about the norms that are already actively working in the industry of stock exchanges and securities.

The head was also asked why the regulator does not develop specific laws for the crypto market, but uses forced regulation. He replied that the agency has already developed "part of the rules", which include various recommendations with comments.

Recall that the lawsuit against Ripple was sent back in 2020. She is accused of distributing unregistered securities, which means native tokens of the platform.

Last week, the judge finally completed this process. She issued a verdict that the sale and other distribution of coins are not an offer or implementation of investment contracts. However, with a purchase of more than $700 million. the legislation is already being violated.

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