Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, has subtly attacked the US Securities and Exchange Commission (SEC) regarding its establishment of an unclear crypto regulatory framework. In a recent post on X, Alderoty fixed that “the SEC rules are so vague and vague that no one knows if they will be at risk.”
Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, has subtly attacked the US Securities and Exchange Commission (SEC) regarding its establishment of an unclear crypto regulatory framework. In a recent post on X, Alderoty fixed that “the SEC rules are so vague and vague that no one knows if they will be at risk.”
Alderoty’s criticism of the SEC
Alderoty’s comments were prompted by statements made by a US judge in the NCPPR v. SEC case. This case involves the National Center for Public Policy Research (NCPPR), a far-right group challenging an SEC ruling regarding a shareholder proposal in Kroger’s proxy statement. The judge’s assertion that the SEC’s rules are unclear and potentially risky for corporations resonated with Alderoty.
This subtle swipe at Ripple’s CLO comes amid a broader dispute between the company and the SEC. Alderoty has been an outspoken critic of the SEC and its chairman, Gary Gensler, accusing the regulatory agency of losing legal battles and engaging in what he described as “shady behavior.”
In November, Alderoty did not hold back and called on Congress to pass “sensible” laws to regulate cryptocurrencies effectively. He also proposed collaborative efforts between the SEC and the Commodity Futures Trading Commission (CFTC) to develop a framework to protect the cryptocurrency market.
Ripple-SEC Case Update
Meanwhile, the legal battle between Ripple and the SEC continues to unfold. The latest development sees the SEC requesting an extension for upcoming deadlines related to remedies in its ongoing case. This extension gives the SEC additional time to review materials provided by Ripple and prepare reports related to the remedies.
Specifically, the SEC requested an extension to file its opening brief related to remedies, pushing the deadline from March 13 to March 22. Ripple reportedly agreed to the SEC’s request. Additionally, the deadlines for Ripple’s opposition brief and the SEC’s response brief were also extended to April 22 and May 6, 2024, respectively.
