As the litigation between Ripple and the SEC continues to heat up, SEC criticism came from Ripple’s Chief Legal Counsel. Ripple Chief Legal Officer Stuart Alderoty called the SEC’s approach “bullying” while highlighting the urgent need for “sensible” crypto regulation from the US.
Ripple Legal Adviser Criticizes SEC
The US Securities and Exchange Commission (SEC) continues to receive criticism from many places. The SEC, which has long been criticized for its stance towards cryptos and crypto companies, continues to be condemned when it comes to Ripple. Finally, in an article written by Ripple’s Chief Legal Counsel Stuart Alderoty, the SEC’s moves were discussed as “bullying”.
Alderoty, in his most recent article, during a surveillance hearing focused on the enforcement division of the Securities and Exchange Commission (SEC), held last week by the House Financial Services Subcommittee, Rep. He referred to Sherman’s “off-base” words. The following parts of the article stood out:
“The SEC is bullying crypto markets by focusing on unproven claims that appear to be regulation, rather than providing regulatory clarity through rulemaking. Unsubstantiated claims that appear to be regulation are bad policy that harms consumers and markets at the whims of an unchecked regulator.”
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