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Ripple's Chief Legal Officer Slams SEC's "Contradictory Shift" and Chairman's Inconsistency in Crypto Regulations

Algoine News
Summary:
Ripple's Chief Legal Officer criticizes SEC's submission as a "contradictory shift" while highlighting Chairman Gensler's inconsistency in crypto regulations. Attorney James K. Filan ridicules the SEC's concern for preserving judicial resources. Pro-XRP attorney John E. Deaton believes Alderoty's response reflects the federal judge's perspective. Federal judges in other cases criticize the SEC's assertions as "arbitrary and capricious." Ripple's Chris Larsen anticipates a potential conclusion to the SEC's regulatory approach.
Stuart Alderoty, Ripple's Chief Legal Officer and General Counsel in the SEC v. Ripple Labs case, has described the recent submission by the United States Securities and Exchange Commission (SEC) as a "contradictory shift" that carries little influence. Alderoty believes that Chairman Gary Gensler's actions showcase inconsistency and manipulation, pointing out that Gensler has requested an urgent appeal while advocating for clear crypto regulations. Attorney James K. Filan ridiculed the SEC's newfound concern for preserving judicial resources, considering their previous attempt to pause proceedings in the case. Pro-XRP attorney John E. Deaton noted that Alderoty's response might appear harsh to those unfamiliar with the case, but it accurately reflects the federal judge presiding over it. Federal judges in other cases, such as the Grayscale lawsuit, have criticized the SEC's assertions as "arbitrary and capricious." Ripple's Executive Chairman, Chris Larsen, anticipates a potential conclusion to the SEC's approach of enforcing regulations through legal actions.

Published At

9/9/2023 9:09:14 AM

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