A petition has been started calling on U.S. Securities and Exchange Commission (SEC) Chairman-Designate Gary Gensler to end the lawsuit against Ripple Labs and its executives over XRP tokens. The petition also demands “a thorough investigation of the matters that led to the last-minute lawsuit against Ripple, filed on the last day in office by former SEC Chairman Jay Clayton.”
Petition to End SEC Lawsuit Against Ripple
An XRP advocate, Thomas Hodge, has started a petition on Change.org calling on SEC Chairman-Designate Gary Gensler to “end the war on XRP.” Gensler is President Joe Biden’s pick to lead the SEC following the departure of former SEC Chairman Jay Clayton.
“We’re asking Gary Gensler, as soon as is confirmed as Chairman of the SEC, to take a close look at the SEC’s allegations against Ripple Labs, its cofounders, and the harm the SEC’s actions have already – and needlessly – caused to holders of the digital currency XRP,” the petition describes.
The SEC filed a lawsuit against Ripple Labs, its CEO Brad Garlinghouse, and co-founder Christian Larsen in December last year, alleging that they sold $1.3 billion worth of XRP tokens without complying with federal securities laws.
The petition also asks Gensler to “Make a public commitment to sitting down with the holders of XRP and other digital assets to understand what it truly means to defend investors at the SEC.” It additionally asks Gensler to: