Stuart Alderoty, Ripple’s general counsel, said that Ripple’s defense could be the best chance for the crypto industry in terms of regulatory clarity.
While Ripple’s lawsuit with the SEC is still pending, many regulators continue to target crypto companies.
Stuart Alderoty Sees the Case as a Chance
Ripple advisor Alderoty has previously accused SEC Chairman Gary Gensler of trying to hold the strings instead of cooperating with regulators.
Stuart Alderoty also frequently mentions that the SEC has taken an aggressive stance.
Thanks @NikiChristoff for having me! Was great chatting with you on the generational changing promise of blockchain and crypto technology, all things @Ripple, the need for greater regulatory clarity, and even…Beanie Babies https://t.co/Ct39ceFfW2
— Stuart Alderoty (@s_alderoty) October 6, 2022
SEC Chairman Gary Gensler continues to point out that most cryptocurrencies are securities at every turn. Describing Bitcoin as a commodity, Gensler refrains from commenting on Ethereum.
Gensler recently appeared on CNBC’s Squawk Box, saying, “The law is clear on that. “Based on the facts and circumstances, I believe most of these tokens are securities.”
Gensler also stressed that a number of entrepreneurs who were raising funds from the public needed to be exposed.
The Ripple and SEC lawsuit is expected to be concluded. Both parties applied for a summary judgment to be announced.
Ripple CEO Brad Garlinghouse also claimed that the court has enough evidence to decide the case.
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