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The Deputy Director of the US SEC Enforcement Department will leave at the end of this month, and the Biden administration has not appointed a new executive director

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U.S. President-elect Joe Biden is expected to appoint former Commodity Futures Trading Commission Chairman Gary Gensler as SEC chairman.

Rhythm BlockBeats news, January 13, according to a press release from the U.S. Securities and Exchange Commission (SEC), Marc P. Berger, currently the SEC’s deputy director of enforcement, will leave the agency by the end of this month. Berger was named Deputy Director of the U.S. Securities and Exchange Commission's (SEC) Division of Enforcement in August 2020. He was named acting head of the division after Stephanie Avakian left the SEC in December.

Although Berger’s prime was brief, he dominated the SEC ( SEC) launched a $1.3 billion lawsuit against Ripple Labs and its founders.

The lawsuit, which was revealed towards the end of Avakian's tenure, alleges that XRP sold tokens to U.S. investors without registration. currency. The SEC considers XRP to be a security.

But according to the SEC, Ripple's founders and executives sold the company for profit Give them XRP. The SEC also accused Ripple of paying companies to use XRP, thereby propping up the price of XRP.

According to Rhythm’s previous reports, on January 8, Ripple CEO Brad Garlinghouse tweeted that, Ripple is trying to communicate with the U.S. Securities and Exchange Commission (SEC) about suing Ripple, hoping to resolve it peacefully.

As the federal government transitions from the Trump administration to the Biden administration on Jan. 20, the SEC’s Things are changing. U.S. President-elect Joe Biden is expected to name former Commodity Futures Trading Commission Chairman Gary Gensler as SEC chairman. The SEC has yet to name a new executive director.