SEC Chairman Gary Gensler Criticized by Ripple Executives
As SEC Chairman Gary Gensler prepares to step down on January 20, Ripple executives have voiced strong criticism of his approach to crypto regulation and the ongoing litigation between Ripple and the SEC.
Ripple Chief Legal Officer’s Criticism
Ripple Chief Legal Officer Stuart Alderoty criticized the SEC’s decision not to delay the deadline to file an opening brief in the appeal of the company’s recent legal victory.
Alderoty expressed his disappointment, stating, “On January 20th, Gensler’s SEC war on crypto comes to an end. We asked the SEC to agree to delay the filing of the opening brief in the appeal of our victory (current deadline is January 15th) and they refused. What a waste of time and taxpayer money!”
Confidence in Legal Position
Despite the setback, Alderoty remains confident in the company’s legal position and is optimistic about working with the new SEC administration to resolve the case.
Ripple CEO’s Criticism
Ripple CEO Brad Garlinghouse also criticized Gensler’s regulatory approach, stating, “With complete disregard for the 2024 election and the American people, Gensler is fully committed to his failed ‘sanctions-based regulation’ agenda.”
Legal Victory for Ripple
Ripple scored a partial victory after a federal judge ruled that XRP is not a security when sold to individual investors.
*This is not investment advice.