Gary Gensler, the current SEC chairman and former Goldman Sachs exec, is stepping down, and Paul Atkins, chosen by President Trump, is taking over. Gensler has been tough on crypto, and Atkins, on the other hand, believes in letting the free market thrive and views crypto as revolutionary technology.
Pro-XRP lawyer John Deaton reacted sarcastically to the news of Gensler stepping down from the SEC, saying “too long.” Deaton has been a vocal critic of Gensler’s approach to crypto, particularly in regard to XRP. His comment reflects the frustration many in the crypto community have felt under Gensler’s leadership, especially regarding his stance on cryptocurrency regulations.
Can Atkins Change The Game?
With Atkins at the helm, the SEC will likely take a less aggressive approach toward crypto, encouraging a more favorable environment for the industry. This change has already sparked a rally in crypto prices, with investors hopeful for more institutional involvement.
Politically, some believe Atkins’ appointment shows how the crypto industry can influence regulators. While Gensler supported stricter ESG regulations, Atkins is skeptical about government involvement in such matters, which could mean less pressure on companies to meet ESG standards in the future. The long-term impact of these changes remains to be seen.
Will XRP Price React?
XRP surged to $1.50 following the news of U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s resignation, marking a 20% jump to its highest price in the past three years. The momentum continued, pushing XRP even higher to over $2.70 in the next few weeks. As of now, XRP is trading at $2.42. The question now is: will this boost continue, and could XRP hit new all-time highs in the wake of Gensler’s resignation?
