Submitted Criticism to SEC from Ripple Advisor

Stuart Alderoty, Ripple’s (XRP) General Counsel, criticized the SEC’s effort to control crypto by sending it “fish on a leash”.

The increase in crypto industry adoption rates and the industry’s potential to progress has come under the grip of US regulators. US regulators consider the crypto industry to be the “wild west” and argue that it needs harsh regulation.

The opposition of the crypto industry to regulators is also noteworthy. Coinbase, Ripple and Binance’s counter moves are heavily on the agenda. Finally, Ripple advisor Stuart Alderoty also voiced his criticism against the SEC.

Ripple Advisor Targets SEC

Stuart Alderoty, Ripple’s (XRP) General Counsel, targeted the SEC with his post on Twitter. Alderoty voiced his criticism by quoting a tweet from SEC Chairman Gary Gensler.

Ripple’s General Counsel, Alderoty, put the SEC’s effort to keep the cryptocurrency market under control and bring cryptocurrencies to the fore by sending a “fish on a leash”. Alderoty’s post featured a fish inside the aquarium and a hand holding the fish on a leash.

Commenting on this image, Alderoty said, “If the SEC had done animal control.” said. The crypto community greeted this post of Alderoty with the rhetoric of “wrong way of control”.

Ripple’s advisor claimed that regulators do not understand crypto and resort to wrong control methods in the field that they do not understand.