Caroline Crenshaw, a US SEC Commissioner, suggested on May 8th that the SEC’s settlement with Ripple might lead to a regulatory gap.
She noted that the settlement contributes to a series of dismissals that undermine the credibility of the agency’s legal positions, which have shifted recently.
Crenshaw argued that the Ripple settlement, along with changes to the SEC’s crypto enforcement program, does a significant disservice to the investing public and could create a regulatory vacuum, weakening the court’s role in interpreting US securities laws.
She stated she could not support the settlement.
She expressed concern that the agreement—where neither the SEC nor Ripple would challenge any part of the court’s summary judgment—undermines the court’s order.
