The U.S. Securities and Exchange Commission (SEC) moved Wednesday to appeal a federal judge’s final judgement in its ongoing lawsuit against crypto firm Ripple over sales of the XRP cryptocurrency.
The regulator’s move sent the price of XRP tumbling, and came just a day after Bitwise filed for an XRP ETF—with the SEC.
The news came as the SEC announced that Gurbir S. Grewal, director of the regulator’s division of enforcement, would step aside from his role. In his time at the SEC, Grewal has overseen dozens of enforcement actions against crypto firms—with the news inevitably prompting speculation that his departure was tied to the agency’s crypto moves.
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SEC Director Who Helped Lead Crypto Crackdown Is Departing
Gurbir S. Grewal will soon depart the SEC's enforcement unit after the agency authorized over 100 enforcement actions against crypto firms.
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Rep. Tom Emmer (R-MN), on the departure of SEC Director of Enforcement Gurbir S. Grewal
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