Could Gary Gensler's Crypto Hearing be an Advantage for XRP Holders?
We recently reported the news that former Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler would be making a speech on the subject of crypto regulation. This news has created a buzz in the crypto community, potentially signaling good news for those who hold XRP.
Gensler is set to provide his insights at the conclusion of this month, on March 31. His potential influence on the crypto industry is expected to be huge due to his former role as CFTC chairman. Currently, he is also a lecturer of blockchain technology at MIT alongside prominent figures such as Christian Catalini, Neha Narula and Francisco Rivadeneira.
His knowledge of the technology has led some analysts to believe that he may bring positive consensus to Ripple’s underlying asset – XRP. A positive result from this hearing could mean that XRP holders will benefit from improved regulations and clarity.
In addition, this hearing comes at a time where Ripple is facing potential legal action over its relationship with XRP and its sales. The legal proceedings have caused much uncertainty regarding the future of Ripple’s main asset.
This means that Gensler’s opinion could indeed be highly beneficial for any XRP holders in what may prove to be a game-changing hearing in relation to crypto regulation. It is worth noting however, that no definitive outcome has yet been determined and we will have to wait until March 31st before more can be revealed.