SEC Faces Scrutiny from Ripple’s Legal Officer: Systemic Issues and Investor Advice
Ripple’s chief legal officer, Stuart Alderoty, didn’t mince words when expressing his discontent with the U.S. Securities and Exchange Commission (SEC), characterizing the regulatory body as “bloated, broken, and beleaguered.”
In a recent social media post, Alderoty emphasized the SEC’s fallibility, citing Supreme Court rulings against the commission in recent years. He urged investors not to succumb to intimidation when dealing with the SEC, underlining that the agency’s authority is not without limitations.
Alderoty’s comments come in the wake of Ripple’s legal victories against the SEC, including the landmark decision declaring XRP not a security. Notably, the SEC has faced setbacks in other crypto-related cases, such as its loss against Grayscale Investments. The legal landscape has fueled criticism of SEC Chairman Gary Gensler’s enforcement-focused approach to crypto regulation, prompting discussions in Congress about potentially removing him from his position. These developments underscore a growing tension between regulatory bodies and the crypto industry, with legal battles shaping the evolving narrative around digital asset securities.
Clever Robot News Desk 4th December 2023
