Home Crypto Events Ripple CTO on Gensler’s Departure: No New ‘Enemy of Crypto’ Emerges

Ripple CTO on Gensler’s Departure: No New ‘Enemy of Crypto’ Emerges

Ripple

Ripple’s Chief Technology Officer, David Schwartz, shared his thoughts with the crypto community. Schwartz took to social media to reflect on Gensler’s exit and its potential impact on the cryptocurrency space.

On January 18, 2025, Schwartz responded to a tweet that celebrated Gensler’s departure. The tweet suggested that with Gensler gone, the crypto community had “won” and was free from his regulatory grip. The tweet also raised the question: Who would be the new “enemy of crypto”?

Schwartz, while acknowledging the significant shift, hinted that the crypto community might not find a new antagonist like Gensler anytime soon. He remarked, “If there is a new enemy of crypto, I don’t think we know who they are yet.” He added that it’s possible that no figure could replace the strong stance Gensler took during his tenure, suggesting that the era of having a prominent crypto critic in such a position might be over.

Ripple’s Legal Chief Also Celebrates Gensler’s Exit

The sentiment surrounding Gensler’s exit wasn’t isolated to Schwartz. Ripple’s Chief Legal Officer, Stuart Alderoty, also expressed relief and a sense of closure for the crypto industry. On the same day, Alderoty took to social media, marking Gensler’s final full day in office with a pointed comment. Alderoty tweeted that in the near future, the crypto community would likely forget the damage done to Ripple and the wider crypto market under Gensler’s leadership. “Starting tomorrow, ‘Gary who?’ will be the only appropriate response if someone mentions his name,” Alderoty quipped.

This response aligns with Ripple’s long-standing tensions with Gensler and the SEC, particularly regarding the legal battle over whether XRP should be classified as a security. For Ripple and many other crypto advocates, Gensler’s departure signals a new chapter in crypto regulation, one that could bring more clarity and fairness to the sector.

A Look Back at Gensler’s Impact on the Crypto Industry

Gensler’s time at the SEC was marked by a tough stance on cryptocurrencies, particularly with respect to regulatory oversight. His leadership has been a point of contention in the crypto space, with many seeing his actions as restrictive and hostile to innovation in the blockchain sector.

Under Gensler, the SEC brought a series of high-profile lawsuits against various crypto companies, including Ripple, which faced a years-long legal battle over the classification of its token, XRP. These lawsuits raised concerns about the SEC’s approach to cryptocurrency regulation, with critics arguing that the lack of clear rules stifled innovation and created uncertainty for investors and companies in the industry.

Schwartz’s remarks, coupled with Alderoty’s comments, suggest that the end of Gensler’s tenure may provide an opportunity for the crypto community to influence a more balanced regulatory framework. The focus now appears to be on fostering collaboration and understanding between the SEC and the broader crypto ecosystem.

Will There Be a New SEC Chairman with a Different Approach?

With Gensler’s exit, attention has now turned to who will replace him as SEC Chairman and what their approach to crypto regulation might look like. The crypto community is hopeful that the next leader will be more supportive of innovation in the sector, providing much-needed clarity around regulatory frameworks and the classification of digital assets.

Although it is unclear whether the next SEC Chairman will fully embrace a hands-off approach or continue Gensler’s tough stance, Schwartz’s comments suggest optimism. The shift in leadership may pave the way for a more balanced relationship between regulators and the crypto industry.

Conclusion: A New Era for Crypto Regulation?

David Schwartz’s comments about the potential for no new “enemy of crypto” point to an exciting, albeit uncertain, time ahead for the cryptocurrency space. As Gensler’s exit signals the end of an era, many in the crypto community are hopeful that the next phase of regulation will bring about greater clarity and support for blockchain innovation. Whether or not a new figure emerges as a challenge to the sector remains to be seen, but for now, Ripple and other crypto advocates are celebrating the prospect of a more collaborative future.

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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