The crypto money market has a very sensitive structure to changes in the policies of regulatory institutions. Therefore, a new decision taken by the US Securities and Stock Exchange Commission (SEC) may affect the speed of investigations into the crypto. With the new application, SEC lawyers will have to get approval from the top management before starting an official investigation. This change is carefully monitored in the crypto market as it may lead to delays in regulatory processes. The development has already had a positive impact on the XRP price.
SEC put into practice his new policy
On Monday, February 3, the US Securities and Stock Exchange Commission (SEC) implemented a new policy that can slow down investigations into crypto. According to Reuters, familiar sources, SEC lawyers, said that the leadership assigned to political appointment before the initiation of an official investigation should receive approval. This change was a deviation from the previous procedures of the SEC and took place under the new leadership of the institution after the Donald Trump administration.
Normally, the SEC is governed by five commission members, but currently operates with only three members, two Republican and one democrat. Members of the Commission are appointed by the US President. Recently, with the departure of former president Gary Gensler and Democratic member Jaime Lizárraga, there has been a significant change in the SEC. Currently, Mark Uyaya is the temporary presidency, but Paul Atkins, who is nominated by Trump as the president of the SEC, is expected to be officially approved.
Former SEC Lawyer Marc Fagel, who reacted to this change, said, um I was intensively involved in the implementation of the policy that allowed personnel to take over the authority of the investigation after the Madoff scandal. If there are those who think that after Madoff should move slowly, this is a great news, ”he said.
XRP price has risen
In the midst of these developments, the XRP gained 19.90 %in the last 24 hours and rose to $ 2.71. The first decline in the price of XRP, which previously declined to $ 2.14 and peaked at $ 2.78, was triggered by US President Donald Trump that it would bring high tariffs for Mexico, Canada and China. However, analysts suggest that this withdrawal may have created a solid ground for a strong recovery.
