Ripple’s top legal eagle, Stuart Alderoty, didn’t hold back as he publicly slammed Gary Gensler, the SEC Chair, accusing him of fraud and manipulation. 🌐
This fiery response was triggered by Gensler’s recent spiel on Bloomberg, advocating for the imposition of securities law on the crypto sector as a shield against fraud and manipulation.
Gensler remains unyielding in his belief that extending securities laws to cryptocurrencies is the key to protecting investors from potential wrongdoing.
The SEC hasn’t escaped the federal judges’ sharp rebukes either. Their claims in the Grayscale and Ripple lawsuits were labeled as “arbitrary and capricious” and “hypocrisy,” respectively.
The SEC’s stance on the “question of law” requirement for interlocutory appeal has raised eyebrows, with Alderoty calling their appeal filing hypocritical and lacking in substance. 🏛