Ripple’s Top Lawyer Urges SEC Commissioner to Advocate for Crypto Industry
The top lawyer at Ripple, Stuart Alderoty, is calling on U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce to take a stronger stance against the regulator’s hostile treatment of the crypto industry. Alderoty’s request comes after Peirce released a statement of dissent regarding the SEC’s lawsuit against LBRY, a blockchain-based file-sharing payment network accused of selling unregistered securities. Alderoty suggests that Peirce should file an amicus brief in defense of LBRY or other crypto industry cases. John Deaton, a pro-XRP lawyer who represented 75,000 XRP holders in the SEC’s lawsuit against Ripple, also echoed Alderoty’s sentiments.
Peirce Questions SEC’s Approach
In her dissenting statement, Commissioner Peirce questioned why the SEC targeted LBRY instead of focusing on companies involved in fraudulent activities. She criticized the Commission for seeking disproportionate remedies and adopting an overly aggressive approach in the case. Peirce’s comments have sparked support from within the crypto community, with calls for her to take further action.
Hot Take: Ripple Lawyer Calls for Stronger Advocacy
Ripple’s top lawyer has called on SEC Commissioner Hester Peirce to speak out more forcefully against the regulator’s treatment of the crypto industry. Stuart Alderoty suggests that Peirce should consider filing an amicus brief in defense of companies like LBRY that face lawsuits over alleged unregistered securities offerings. Pro-XRP lawyer John Deaton also supports this call for action. In a recent statement, Commissioner Peirce questioned why the SEC went after companies like LBRY instead of focusing on more egregious cases of fraud. The crypto community is urging Peirce to take a stronger stance and advocate for fairness and proportionality in the SEC’s actions.
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