Crypto Dad” Giancarlo: I Am Thrilled That Ripple Triumphed.
Following Ripple’s significant victory in the SEC legal proceedings, Christopher Giancarlo, the previous chairman of the CFTC, conveyed that he felt justified in his initial determination.
He expressed on social platforms, “I evaluated the XRP Ledger based on my comprehension, and it unfolded as I anticipated, and the legislation concurs as well.”
As early as 2020, he openly declared that XRP does not constitute a security, and Giancarlo acquired the moniker “Crypto Dad” due to his amicable position on virtual currencies. In a document co-authored alongside commodity lawyer Conrad Barke, he contended that tokens linked to Ripple ought to be categorized as currency.
Several months afterward, the SEC initiated legal action against Ripple, asserting that it contravened securities regulations. NYSE Submits Fresh Staking Request for Ethereum ETF
Nevertheless, Giancarlo’s evaluation did not garner widespread acceptance during that period due to the fact that his firm was counseling Ripple at the time. Furthermore, the report depended on details furnished by Ripple itself.
Subsequent to a protracted judicial confrontation, the SEC has now consented to retract its appeal.
Ripple’s principal legal advisor, Stuart Alderoty, articulated his appreciation for Giancarlo’s backing of Ripple.
He remarked: “Half a decade ago, when numerous individuals opposed us, even those who bolstered us opted to maintain silence. And you possessed the acumen and fortitude to assess this subject matter grounded in your understanding. Gratitude to you.”
