SEC Chair ‘disappointed’ by ruling in Ripple case

US Securities and Exchange Commission (SEC) Chair Gary Gensler has expressed disappointment over the recent court ruling related to XRP.

The SEC boss was responding to a question on what impact the ruling had had on SEC’s regulatory approach.

SEC “disappointed” but assessing ruling

Gensler’s comments on Monday, reported by Reuters, come days after a US judge handed Ripple Labs a partial victory in the regulator and the US-based blockchain company’s multi-year court battle. In his remarks at the National Press Club, the SEC Chair said the court’s ruling that Ripple’s XRP was not a security and that its sales on exchanges do not violate US securities laws disappointed him.

What the court determined and noted about retail investors is what surprised the SEC boss, he added.

However, he maintained that the agency was assessing the court’s decision and that the regulator was satisfied with aspects of the ruling – specifically regarding the importance of protecting investors on the institutional level.

Gensler noted that despite the Ripple ruling, the SEC remains committed to its goal of “investor protection, promoting capital formations and the markets in the middle.”

Does SEC and Gary Gensler care about protecting retail crypto investors? Many in the industry feel otherwise and will likely be disappointed by what the SEC Chair said.