The price of XRP is rising after reports that Elad Roisman will be appointed President of the US Securities and Exchange Commission.
Congratulations, Chairman Roisman! I look forward to your leadership of the SEC.
— Hester Peirce (@HesterPeirce) December 24, 2020
Crypto friendly Roisman
Roisman is seen as a potential ally of the cryptocurrency industry, due to his statements in July 2018 when he asked the Commission to review its rules during the emergence of crypto assets and blockchain technology.
“The SEC should review and reorganize its rules, regulations and guidelines to ensure that the SEC is working as intended to accomplish its mission.
This is reflected in the recent emergence of new investments and technologies in areas such as data protection and cybersecurity, as well as the first cryptocurrency offerings and blockchain. ”
Lawsuit against Ripple
Days before outgoing Chairman Jay Clayton stepped down, the SEC filed a lawsuit against San Francisco payment company Ripple, claiming it sold the cryptocurrency XRP as an unregistered security.
After the case was announced, the price of XRP fell.
According to CoinMarketCap, it has increased by 24% in the last 24 hours to reach $ 0.33. The asset has lost 43% value in the last seven days.
Roisman is expected to head the SEC for a short time, and Joe Biden will appoint Roisman as a permanent member after taking office in January.