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Fox Business reporter Charles Gasparino’s description of President Torres’ ruling in the Ripple 
$2 and SEC case as “foolish” has ignited discussions within the cryptocurrency sector. His comments have prompted criticism from crypto enthusiasts and legal experts, highlighting diverse perspectives on the ruling’s implications for the crypto industry.
Gasparino’s Criticism
In a recent interview with Anthony Pompliano, Gasparino claimed that President Torres established a lower disclosure standard for retail investors. He characterized the decision as “foolish,” arguing that it could undermine the protection of retail investors.
“Mr. Torres stated that retail investors do not recognize Ripple, thus he did not classify secondary market sales as securities,” noted Tony Edward.
Crypto influencer Tony Edward accused Gasparino of bias, emphasizing that Gasparino wished for Ripple to fail and that Torres did not classify secondary market sales as securities.
Legal Experts’ Views
Attorney Bill Morgan offered a different perspective, asserting that Gasparino misunderstood the case. He clarified that the ruling only addressed Ripple’s programmed sales and did not encompass all secondary market transactions.
Gasparino criticized the SEC’s approach, claiming the agency misprioritized its focus. He contrasted the leniency shown toward individuals like Sam Bankman-Fried with the aggressive scrutiny faced by Ripple, suggesting this selective enforcement indicates regulatory overreach.
Ripple’s Struggles and Market Developments
Ripple CEO Brad Garlinghouse echoed similar frustrations, labeling the SEC’s actions as a threat to the industry. He argued that the lack of clear guidance from the agency stifles innovation within the U.S. crypto sector.
Following a strong rally since November, XRP prices have experienced fluctuating trading in recent weeks. However, expectations for a pro-crypto regulatory environment in the U.S. have increased following Trump’s election victory.
Ripple’s partial victory in 2023 provided some relief to the XRP community, as the court ruled that XRP’s secondary market sales are not securities. Nevertheless, speculation grew over the SEC’s impending appeal. While market sentiment remains strong, experts are optimistic about XRP’s future.
Despite the technological potential of Ripple, regulatory uncertainties continue to loom. The trajectory of XRP will hinge on ongoing legal developments and market dynamics, with the crypto community closely monitoring Ripple’s successes and the SEC’s stance.
