Gary Gensler UPDATE

I have an UPDATE for the Gary Gensler saga. As I had predicted a few times, Gary Gensler has announced that he will be resigning his post as the Chair of the SEC on January 20, 2025. Just before the new administration takes the helm. It seems as though the SEC will also be dropping any further litigation against Ripple and Brad Garlinghouse, its CEO.

Perhaps this is due to the fact that Ripple and XRP are truly the golden child of international cross border payments. With SWIFT and nearly all international banks having already signed on to the Ripple XRP blockchain protocol, and Ripple being the most regulated crypto asset on the planet therein creating the stability of the multiple country/continent real world asset needed for cross border institutional banking transactions that is fully compliant with the ISO 20022 financial standards test, it kind of goes without saying.

OH! And China has just announced that a Shanghai Judge has ruled “that cryptocurrencies have the attributes of property and thus holding it is legal.” China has been a Ripple partner since 2013. This gives way to the largest and fastest growing middle class on the planet the green light to invest in Bitcoin, XRP and other cryptos.

Hold on tight!!