Top Ripple Lawyer Says Gensler ‘Anti-Crypto Crusade’ Is Imploding
Stuart Alderoty, chief legal officer at Ripple, has already commented on the U.S. Securities and Exchange Commission’s latest legal setback, claiming that the agency’s “anti-crypto crusade” is now imploding.
The Third Circuit Court of Appeals dubbed the agency’s actions “arbitrary” and “capricious” regarding the agency’s rejection of Coinbase’s petition that was seeking comprehensive rulemaking. The SEC has been requested to provide the reason for its denial.
The court has stated that “sporadically enforcing ill-fitting rules” against various cryptocurrency companies goes beyond merely fighting fraud.
