Digital Assets Marked as Unregistered Securities by SEC Surge in Value

Forex - Digital assets labeled as unregistered securities by the U.S. Securities and Exchange Commission (SEC) surged following the announcement that SEC Chairman Gary Gensler plans to resign. Gensler revealed he intends to leave in January when President Trump takes office, as Trump had promised to fire him.

Gensler has been a fierce critic of alleged non-compliance and risky practices in the digital asset sector, which suffered a spectacular collapse two years ago. The token associated with Ripple Labs Inc., XRP, jumped by up to 20% today following Gensler's announcement. Ripple has been engaged in a long-standing legal battle with the SEC regarding the status of digital assets.

The ADA token linked to the Cardano blockchain rose by about 12%, while a rally in Solana's SOL drove its price above the pandemic-era record set in 2021. Like XRP, ADA and SOL have also been prominent in SEC cases.