Stuart Alderoty, the chief legal officer of the well-known crypto exchange Ripple, has recently spoken about SEC’s recent action. The general counsel of Ripple in its lawsuit against the US securities regulator has targeted the agency’s latest submission. Alderoty pointed out that the exclusive filing of the SEC presents a conflicting shift while contending that it possesses little influence.
Ripple’s Counsel in Its Lawsuit Says the Exclusive Filing of the SEC Is “Hypocritical Pivot”
After a recent filing that the SEC has submitted to support the interlocutory appeal thereof, Alderoty took to X. In his post, the attorney categorized the filing as another move that plays the role of a hypocritical pivot. The lawyer asserted that this development is one of the supposedly manipulative and inconsistent actions of the SEC chairman. He added that the move also highlights Gary Gensler’s craving for enhanced regulation.
The lawyer brought to the front that the SEC chair had requested an immediate appeal. In this respect, he reportedly said that the crypto rules and regulations were clear. Hence, he added, the market must adhere to the respective rules. Another lawyer named James Filan also discussed this issue and criticized the securities regulatory agency.
Ripple Proponent Lawyer Focuses on SEC’s Former Attempts to Halt the Court Proceedings
As per Filan, the SEC has presented a newfound concern to support the interlocutory appeal. In addition to this, the lawyer also discussed the former attempt of the SEC to halt the lawsuit proceedings. He thinks that the SEC’s sudden concern to conserve judicial resources is pathetic.
John Deaton, an XRP proponent lawyer, commented on Alderoty’s reaction to the securities regulator. He stated that the respective response is quite harsh according to the people familiar with the lawsuit. In the lawsuit of Grayscale, federal judges condemned the assertions raised by the SEC as capricious and arbitrary.
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