SEC’s Crenshaw Says No to XRP ETF
Main Idea
SEC Commissioner Crenshaw opposes the approval of an XRP ETF, standing alone in dissent among 13 commissioners, raising concerns about investor protection and financial stability.
Key Points
1. Crenshaw rejected the XRP ETF proposal despite XRP meeting all technical requirements, including a six-month trading history.
2. Out of 13 crypto ETF-related votes, Crenshaw was the only commissioner to vote 'no' each time, including for Bitcoin, Ethereum, and XRP ETFs.
3. Market confidence in the XRP ETF dropped from 90% to around 65% following Crenshaw's dissent.
4. Crenshaw has consistently opposed crypto ETFs, citing concerns they could mislead investors or undermine financial stability.
5. Her opposition extends beyond XRP, including resistance to SEC guidance on liquid staking and USD-pegged stablecoins.
Description
In a surprising move that has stirred the crypto community, U.S. Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw has voted against the approval of an XRP exchange-traded fund (ETF), becoming the sole dissenting voice among 13 commissioners. According to a post by crypto commentator Xaif on X, Crenshaw’s rejection of the XRP ETF adds to a growing list of ETF proposals she has opposed, raising concern that her stance may be driven by something more than regulatory caution. ...
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