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SEC’s Crypto Crackdown Terrible for Democrats: Ripple (XRP) Exec

In light of recent actions taken by the U.S. financial watchdog against crypto giants Paxos and Kraken, Ripple’s Chief Legal Officer, Stuart Aldeorty, took a jab at SEC Chair Gary Gensler on Twitter. In his opinion, the recent crypto-focused attacks could have an adverse effect on the Biden administration and the Democratic party as a whole.

In relation to the SEC’s alleged anti-crypto stance, Ripple has already been embroiled in a legal battle with the U.S. regulator for a significant amount of time. The crypto entity was charged by the SEC over allegations that it had broken securities laws through the sale of its XRP coins. This has led to a roller coaster ride for the price of the XRP token, which is currently trading at $0.37 according to CoinGape’s crypto market tracker.

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