Ripple CLO Stuart Alderoty, has voiced worries about the US SEC’s recent track record of failed legal battles against cryptocurrency companies as many crypto community members seem to doubt the regulatory body’s core mission of protecting investors.
Ripple CLO Speaks On SEC’s String Of Losses
Stuart Alderoty, Chief Legal Officer of Ripple, a leading provider of crypto solutions, has taken to X (formerly Twitter) to express his concern for the United States Securities and Exchange Commission’s (SEC) recent legal setbacks in cases revolving around the crypto industry.
In his post, Alderoty stated that the series of losses experienced by the US SEC is becoming distressing. He highlighted a recent case filed by the SEC which was rejected by the court with a ruling that the SEC was acting “arbitrarily.”
“Another day and another Court finds that the SEC again acted arbitrarily and capriciously. Is anyone else concerned about this very troubling pattern of the SEC flouting any faithful allegiance to the law under Mr. Gensler?” Alderoty stated.
The US SEC has been involved in laying out multiple lawsuits against crypto exchanges and firms for years now. One of its most prominent and ongoing cases is its legal battle with XRP, Binance, and Grayscale which filed a lawsuit against the SEC after the agency rejected its Spot Bitcoin ETF application.
The regulatory body had filed a lawsuit against XRP in December 2020. The three-year-long trial has had a series of ups and downs, with the SEC facing a significant loss after <
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Author: Scott Matherson
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