Unprecedented Alliance: Ripple CEO & SEC Chair Join Forces, Igniting Crypto Speculation

Ripple CEO Brad Garlinghouse and SEC Chair Gary Gensler are set to be the keynote speakers at the forthcoming D.C. Fintech Week, commencing on Nov 6.

The update has sparked anticipation and excitement within the crypto community as they eagerly await intriguing conversations and discussions during the D.C. Fintech Week 2023.

The Bank of International Settlements posted the announcement about the captivating lineup of keynote speakers on their social media account, known as X (formerly Twitter), as they co-regulate the event.

As the Ripple-SEC legal battle over XRP’s classification as security continues, cryptocurrency enthusiasts eagerly anticipate engaging discussions and valuable insights.

The prominent lineup of speakers, which includes Ripple CEO Brad Garlinghouse and SEC Chair Gensler, has piqued the interest of crypto enthusiasts, who are speculating about a potential encounter between these key figures at the event.

One user on X, in a lighthearted tone, described the situation as humorous, as both parties engaged in a legal battle share the stage as speakers.

Notably, amid the numerous comments and tweets, a post shared by XRP lawyer John E. Deaton garnered the attention of market observers. Playfully, John suggested, “BIS should allow me to moderate this event and ask questions. I guarantee it would attract a lot of attention.”

Ripple vs. SEC: A Landmark Case On XRP’s Legal Status

The U.S. SEC claimed that Ripple’s XRP was security rather than money, which sparked the 2020 legal dispute between Ripple and the SEC. Notably, by selling XRP in an unregistered security offering in 2013, Ripple, the blockchain company and inventor of the cryptocurrency token raised more than $1.3 billion.

The issue, which attracted attention from cryptocurrency fans, was important to traders since it was a well-known instance of a securities regulator going after an initial coin offering (ICO).

In July, the court determined that XRP (and hence cryptocurrency) constituted a security when offered to institutional investors rather than the general public on an exchange, despite the ongoing legal battle and proceedings.

The SEC voluntarily dropped their charges against Chris Larsen, executive chairman and CEO of Ripple, back in Oct. This ruling dismisses the additional hearings, which were scheduled for April 2024.

For crypto fans and SEC Chair Gary Gensler, as well as Ripple CEO Brad Garlinghouse, the D.C. Fintech is likely to be a big event following the dramatic legal battle.

From November 6 to Nov 9, D.C. Fintech Week will address various financial and technology-related topics.

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.