Ripple Criticizes SEC’s “Hypocritical Pivot” in Latest Legal Filing


This article has been republished with permission from Binance News.

According to Cointelegraph: Stuart Alderoty, Ripple’s chief legal officer, has called the Securities and Exchange Commission’s (SEC) latest filing a “contradictory shift” in the SEC vs. Ripple Labs case. According to Alderoty, the regulatory authority’s submission to reinforce its interlocutory appeal is another instance of “hypocritical pivot.” The chief legal officer criticized SEC Chair Gary Gensler for his inconsistent behavior and appetite for expanding regulation.

Alderoty highlighted Gensler’s request for an urgent appeal despite stating that the crypto regulations and rules are already clear and must be followed by the industry. Lawyer James Filan joined in, ridiculing the SEC’s new-found concern for preserving judicial resources. Alderoty’s response to the SEC criticism might seem harsh to someone unfamiliar with the case. However, for those who understand the case well, his characterization of the SEC’s “hypocritical” behavior narrates the judge’s opinion overseeing the case.

Ripple’s executive chairman, Chris Larsen, also foresees a conclusion to the SEC’s way of enforcing regulations through legal actions. Meanwhile, in the Grayscale lawsuit, federal judges criticized the SEC’s claims as “capricious” and “arbitrary.”

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