from Yahoo Finance
The head of the U.S. securities regulator said Monday the agency was "disappointed" with a judge's recent ruling that Ripple Labs Inc did not violate federal securities laws in a major blow to its efforts to rein in the cryptocurrency sector. U.S. Securities and Exchange Commission Chair Gary Gensler said his agency was still assessing the court's decision but was pleased with a portion of the ruling in which the judge held that Ripple should not have sold its XRP tokens directly to sophisticated investors. Gensler also said agency staff were still working on a much-anticipated climate disclosures rule, and were now developing recommendations on regulating artificial intelligence, which he said posed risks to investors and financial stability.
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