Ripple lawyer criticizes SEC’s recent filing as a “hypocritical pivot”
Ripple’s chief legal officer and general counsel, Stuart Alderoty, has spoken out against the United States Securities and Exchange Commission’s (SEC) latest submission in the SEC vs. Ripple Labs case. Alderoty referred to the filing as a “hypocritical pivot,” pointing out what he perceives as inconsistencies and manipulative actions by SEC Chair Gary Gensler.
In a recent tweet, Alderoty criticized Gensler for requesting an urgent appeal while simultaneously claiming that crypto regulations were clear and must be followed by the industry. He characterized the SEC’s filing as another instance of hypocrisy.
Another lawyer involved in the case, James Filan, also ridiculed the SEC’s concerns for preserving judicial resources, highlighting the commission’s previous attempt to pause all proceedings.
Pro-XRP lawyer John Deaton believes that those familiar with the case understand Alderoty’s strong reaction to the SEC’s actions. He believes that Alderoty’s characterization of the SEC as hypocritical reflects the views of the federal judge overseeing the matter.
Criticism of the SEC’s Assertions
In the Grayscale lawsuit and other related cases, federal judges have expressed criticism of the SEC’s assertions as “arbitrary and capricious.” This suggests a lack of consistency and reason in the commission’s actions.
Ripple’s executive chairman, Chris Larsen, even expects that the SEC’s approach of enforcing regulations through legal actions may soon come to an end.
Is SEC Chair Gary Gensler the Final Authority on Crypto Regulation?
Many in the crypto community question whether SEC Chair Gary Gensler holds the final say on crypto regulation. The SEC’s actions and perceived inconsistencies have raised doubts about Gensler’s approach to the industry.
While the SEC continues to pursue legal actions against Ripple Labs, Ripple’s legal team and its supporters are pushing back against what they see as hypocritical and overreaching regulation.
It is no surprise that Ripple’s legal team is calling out the SEC’s latest filing as a “hypocritical pivot.” The ongoing legal battle between Ripple Labs and the SEC has been a topic of significant interest and debate within the crypto community.
If you want to stay updated on the latest news and developments in the crypto industry, be sure to check out Uber Crypto News for reliable and insightful coverage.