Former SEC Director who led Ripple action lands new role at Ethereum law firm

According to news outlet Bloomberg, Marc Berger, who stepped down from his role at the US Securities and Exchange Commission (SEC) in January, will join New York-based Simpson Thacher in June. Berger was instrumental in bringing legal action against Ripple on allegations of selling an unregistered security in the XRP token.

A key point throughout the hearing process has been the SEC’s nod of approval towards both Bitcoin and Ethereum, which they deem as not securities. Questions are now being asked following Berger’s appointment at a member firm of the Enterprise Ethereum Alliance.

Nagging doubts over the legitimacy of Ripple lawsuit heighten

Initial community reactions to the SEC lawsuit against Ripple were shock and disbelief. The fallout saw partners bailing, exchange delistings, and the XRP price dropping like a stone. Given the SEC’s track record of successful prosecutions, things looked bleak. Read More