Crypto vs SEC: Can Robert F. Kennedy Jr Influence SEC’s Approach to Crypto?

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Former Ripple director Sean McBride recently stirred the pot by calling out U.S. presidential candidate Robert F. Kennedy Jr. regarding what he perceives as corruption within the U.S. Securities and Exchange Commission (SEC). McBride’s message to Kennedy underscored the lack of transparency and fairness in the SEC’s treatment of cryptocurrencies, particularly XRP, which received regulatory clarity after the Ripple vs SEC case in July 2023.

Only RFK Jr Can Stop SEC Overreach, Says Analyst

SEC, under Gary Gensler, faces criticism for alleged corruption and manipulation, labeled politically charged and unlawful. In a direct message to Kennedy, McBride made it clear that his message wasn’t just about highlighting XRP’s regulatory status but also questioning the SEC’s practices, which he branded as “corrupt.” He urged Kennedy, known for his pledge to fight corruption, to comment on the matter, suggesting that if Kennedy were to secure a term, the SEC might end up under scrutiny.

Moreover, McBride also revealed XRP’s eco-friendly nature compared to other cryptocurrencies, as it doesn’t require energy-intensive mining. He sought Kennedy’s opinion on this aspect, considering his background as an environmentalist. However, Kennedy has yet to provide a comment on the Ripple vs SEC case.

The Truth? 

On the flip side, Kennedy’s endorsement of Bitcoin and SHIB suggests a different narrative, as these assets are not entangled in the SEC’s current regulatory issues. Therefore, calling on Kennedy to halt the SEC’s overreach may be challenging for now. With Coinbase ruling XRP case is already in question. Stakes are high and only time will tell what turn it will take. 

Kennedy Hinting SHIB, Crypto Fever on Top? 

Interestingly, before McBride’s call for Kennedy’s opinion, Kennedy had been observed endorsing Shiba Inu, a meme coin, at the ETHDenver 2024 event. This move signaled support for the SHIB community, aligning with the slogan “It’s Not A Meme, It’s A Movement.” Kennedy’s endorsement came at a time when Shiba Inu was gaining significant traction, securing a spot in the top 10 cryptocurrencies by market capitalization during a recent meme coin rally.