Ripple Advisor Targeted SEC: Hypocrisy!

In a turn of events that continues to fascinate the crypto community, Ripple Chief Legal Officer and General Counsel Stuart Alderoty has once again taken aim at the U.S. Securities and Exchange Commission (SEC). This time, it’s on the SEC’s latest filing to strengthen its provisional appeal in the Ripple Labs case. Alderoty did not mince words, calling the SEC’s latest move a “contradictory change” and a prime example of “hypocrisy.” In the Grayscale case, federal judges criticized the US SEC’s claims as “arbitrary and capricious”. Judge Netburn also used the term “hypocrisy” to characterize the SEC’s contradictory positions. In addition, Ripple’s Chief Executive Chris Larsen predicts that the SEC’s approach to enforcing regulations through regulatory actions may come to a conclusion in the near future. Here are the details…

Ripple advisor targets SEC

Alderoty’s criticisms focus on SEC Chairman Gary Gensler’s approach to crypto regulation. Gensler, who has long argued that crypto rules are clear and should be followed by the industry, recently called for an urgent appeal in the Ripple case. This sudden change in stance did not go unnoticed by Alderoty, who criticized the SEC’s apparent inconsistency. “Another SEC filing, another hypocritical turn… After years of its chairman saying ‘the rules are clear and must be followed,’ the SEC is now screaming that an appeal is urgently needed to resolve these knotty legal issues,” Alderoty said.

Attorney James K. Filan joined the body of criticism directed at the SEC, highlighting the agency’s previous attempt to halt all transactions in the case. The newfound concern for protecting judicial resources seemed ironic in the face of the SEC’s previous actions. Noted pro-XRP lawyer John E. Deaton offered some context to Alderoty’s response. SEC v. For those unfamiliar with the Ripple Labs case, Alderoty’s words may seem harsh. But for those following the case closely, his characterization of the SEC as a “hypocrite” aligns with sentiments expressed by the federal judge presiding over the matter.

SEC gets backlash from many

This isn’t the first time the SEC has faced backlash regarding its approach to crypto regulation. In the Grayscale case, federal judges criticized the SEC’s claims as “arbitrary and capricious.” In the Ripple XRP case, Judge Netburn did not hesitate to use the term “hypocrisy” to describe the SEC’s contradictory positions. Addressing the ongoing legal battle, Ripple’s Chief Executive Chris Larsen expressed the expectation that the SEC’s strategy to enforce regulations through legal actions may reach a conclusion in the near future. SEC v. As the Ripple Labs case progresses, the crypto industry is watching closely and stakeholders on all sides of the debate are examining the SEC’s regulatory approach and its impact on the crypto-asset landscape.