Ripple’s General Counsel Slams Unfair LBRY Lawsuit, Presses SEC Commissioner for Stronger and Immediate Advocacy
Ripple’s chief legal counsel, Stuart Alderoty, is urging SEC Commissioner Hester Peirce to take a more proactive stance against the SEC’s aggressive approach to the crypto industry.
Alderoty, in response to Peirce’s dissenting statement on the SEC’s lawsuit against LBRY. Suggests that it might be time for Peirce to file an amicus brief in defense of LBRY or other crypto industry cases. He emphasizes the need to speak out louder and sooner in the face of injustices, particularly when non-fraud cases are prioritized over blatant frauds. Leaving consumers seeking recourse.
Pro-XRP lawyer John Deaton echoes Alderoty’s sentiment. Urging Peirce to take an active step like filing an amicus brief, emphasizing the importance of a collective voice in court. Peirce had questioned the SEC’s harsh approach in the LBRY case. Pointing out the disproportionate remedies sought against a company that had not caused substantial harm compared to other outright frauds overlooked by the regulator.
Clever Robot News Desk 1st November 2023
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