Cryptocurrency vs. SEC: Could Robert F. Kennedy Jr Influence the SEC’s Cryptocurrency Approach?

Former Ripple executive Sean McBride recently stirred the pot by calling out US presidential candidate Robert F. Kennedy Jr. over what he perceives as corruption within the US Securities and Exchange Commission (SEC). McBride’s message to Kennedy highlighted the lack of transparency and fairness in the SEC’s handling of cryptocurrencies, particularly XRP, which gained regulatory clarity following the Ripple v. SEC case in July 2023.

Analysts say only RFK Jr can stop SEC overreach.

The SEC, under Gary Gensler, has come under political fire for allegations of corruption and manipulation and is accused of being illegitimate. In his direct message to Kennedy, McBride made it clear that his message was not only to highlight XRP’s regulatory status, but also to question the SEC’s practices, which he branded “corrupt.” He urged Kennedy, known for his commitment to fighting corruption, to comment on the issue, suggesting that the SEC may face an investigation if Kennedy secures his term in office.

McBride also revealed the eco-friendly nature of XRP compared to other cryptocurrencies as it does not require energy-intensive mining. He sought Kennedy’s opinion on these aspects, given his background as an environmental activist. However, Kennedy has yet to comment on the Ripple and SEC cases.

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On the other hand, Kennedy’s support for Bitcoin and SHIB suggests a different explanation, as these assets are not tied to the SEC’s current regulatory concerns. So asking Kennedy to stop the SEC’s overreach may be difficult at the moment. With the Coinbase ruling, the XRP case is already in doubt. The stakes are high and only time will tell which way it goes.

Kennedy Hint SHIB, is cryptocurrency craze on the rise?

Interestingly, before McBride asked for Kennedy’s opinion, Kennedy was observed endorsing the meme coin Shiba Inu at the ETHDenver 2024 event. This move represents support for the SHIB community, living up to the slogan “It’s not a meme, it’s a movement.” Kennedy’s endorsement comes at a time when Shiba Inu is gaining significant traction during the recent meme coin rally, earning a spot in the top 10 cryptocurrencies by market capitalization.