November 2, 2023 at 07:17 PM GST 1 min read News
  • Ripple’s CLO, Stuart Alderoty, criticizes SEC Chair Gary Gensler, echoing Coinbase’s Paul Grewal’s sentiments.
  • Alderoty shares a Wall Street Journal opinion piece questioning Gensler’s legal victories.
  • Pro-XRP lawyer John Deaton and others express concerns about the SEC’s diminishing credibility.

Ripple’s Chief Legal Officer, Stuart Alderoty, is the latest to voice concerns over the U.S. SEC’s actions under Chair Gary Gensler. Following Coinbase’s Paul Grewal’s critique, Alderoty, backed by XRP advocates like John Deaton, has expressed his disagreement with the SEC’s approach. 

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Alderoty recently shared an opinion piece from The Wall Street Journal, questioning Gensler’s legal track record. This comes after the Fifth Circuit Court of Appeals criticized the SEC’s stock buyback rule. The SEC’s actions have been under scrutiny, with accusations of violating the Administrative Procedure Act. Grayscale has also pointed out the SEC’s alleged violations concerning GBTC’s conversion. 

John Deaton, a pro-XRP lawyer, has called for more leadership from the SEC, highlighting the agency’s dwindling credibility. Bill Morgan further emphasized the political motivations behind the SEC’s actions, urging the agency to stop its alleged bullying of the crypto sector.

With leaders like Alderoty championing its cause, XRP’s future in the crypto industry looks promising. As the dialogue around regulatory clarity intensifies, there’s hope that XRP will continue to thrive and play a significant role in the evolving financial landscape.

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