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Stuart Alderoty, Ripple’s Chief Legal Officer and General Counsel in the SEC v. Ripple Labs case, has characterized the United States Securities and Exchange Commission’s (SEC) latest submission as a “contradictory shift” and contends that it holds little sway.\u00a0<\/p>\n
Following the recent filing by the U.S. SEC to reinforce its interlocutory appeal, Stuart Alderoty, Chief Legal Officer at Ripple, commented<\/a> on X, referring to the submission as another instance of a “hypocritical pivot.” Alderoty highlighted what he sees as Chairman Gary Gensler’s inconsistency, manipulative actions and appetite for expanded regulation.<\/p>\n He pointed out that Gensler had requested an urgent appeal while simultaneously asserting that crypto regulations and rules were clear and must be adhered to by the industry. <\/p>\n \u201cAnother SEC filing, another hypocritical pivot\u2026 After years of its chairman saying the \u2018rules are clear and must be obeyed,\u2019 the SEC now cries that an appeal is urgently needed to resolve these knotty legal problems.\u201d<\/p><\/blockquote>\n Attorney James K. Filan took a dig at the SEC, ridiculing their newfound concern for preserving judicial resources. He pointed out the SEC’s previous attempt to pause all proceedings in the case.<\/p>\n The SEC\u2019s argument that Judge Torres should stay the proceedings because the SEC is all of a sudden concerned about conserving judicial resources is laughable.<\/p>\n \u2014 James K. Filan (@FilanLaw) September 8, 2023<\/a><\/p><\/blockquote>\n\n