Ripple’s Chief Legal Counsel Discusses SEC’s “Juvenile Behavior” amid Anti-Crypto Enforcement Actions
Ripple’s chief legal counsel, Stuart Alderoty, has denounced what he sees as immature antics from the U.S. Securities and Exchange Commission (SEC) as the agency continues to focus its regulatory efforts on crypto assets.
Alderoty has taken to the social media platform X to weigh in on Binance’s recent difficulties with regulators, stating that these legal challenges are essential for the digital assets industry to adhere to legal requirements.
Alderoty believes that compared to other regulators, the SEC’s recent enforcement actions and its response to Binance’s charges demonstrate that the agency is particularly unreasonable.
The attorney points out that the SEC refrained from joining the DOJ and Treasury in the Binance settlement, indicating that the agency has become an outlier within its own government under Gensler’s leadership.
Alderoty also criticizes the SEC for creating new terms for crypto assets that lack legal significance and have not been acknowledged by other regulatory agencies.
Hot Take
Ripple’s chief legal counsel condemns the SEC’s actions, alleging that the agency’s behavior is immature and detrimental to the crypto industry’s development, as it is inventing terms without legal grounds and acting as an outlier within the U.S. government.
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