Ripple’s Chief Legal Officer, Stuart Alderoty, has criticized US Securities and Exchange Commission (SEC) Chair Gary Gensler over his attempt to justify the crypto lawsuits the Commission has instituted. Alderoty’s statement comes amid speculations that Gensler could soon resign as SEC Chair. Alderoty argues that Gensler’s claim that he just continued what Jay Clayton began is like “burning down the house” and pleading innocence by arguing that Clayton lit the match.
Gensler hinted in a speech that he may resign soon as SEC Chair, and has been criticized for his anti-crypto stance. Meanwhile, the SEC is facing a lawsuit from 18 US state attorney generals, who accuse the SEC of a constitutional overreach in crypto regulation. Journalist Eleanor Terrett has confirmed that the next US SEC Chair will be pro-crypto, but the crypto industry should focus more on who becomes the next Commodity Futures Trading Commission (CFTC) Chair.
Ripple CEO Brad Garlinghouse has expressed enthusiasm about the shifting regulatory landscape, and Alderoty has called on Donald Trump to work towards making the US the crypto capital by ending the SEC’s regulation-by-enforcement approach.
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<p>The post Ripple CLO Slams SEC Chair Gary Gensler Over Crypto Lawsuits: A Call for Change Amid Gensler’s Potential Resignation first appeared on CoinBuzzFeed.</p>
