Ripple Attorney: “The SEC Is Harming Ordinary Investors”

Recently, the president of the American Securities and Exchange Commission (SEC), Gary Gensler, an opinion piece in the Wall Street Journal. In it, he argued that the SEC treats the crypto market in exactly the same way as any other market. Ripple (XRP) attorney Stu Alderoty disagreed. According to him, the actions of Gensler and the SEC will leave normal investors with empty pockets.

Ripple vs. SEC

Of course, Ripple and the SEC have not been friends for a long time. There has been one for over a year big lawsuit underway between the two parties. According to the SEC, Ripple would have sold their XRP tokens as securityor effect, without having the necessary licenses for this.

Ripple of course strongly denies this and even believes that the lawsuit against them should be interpreted as an attack on the entire crypto industry. For now, there seems to be no end to the lawsuit.

Acting of the SEC

Ripple attorney Alderoty is one of the mouthpieces of the Ripple camp. According to him, the SEC’s policy is unjustifiable. He also states in the WSJ, that the SEC only thinks of itself and forgets that certain actions can be the victims of normal investors. According to Alderoty, the SEC’s absolute priority is not to protect millions of Americans, but to mark their territory.

“Gary Gensler’s recent WSJ commentary proves that the SEC’s priority is to protect its grounds at the expense of the more than 40 million Americans in the crypto economy. I responded, explaining how the agency’s actions are failing consumers.”

Another Ripple attorney, John Deaton, recently stated that the SEC is deliberately out of bounds to attack crypto companies:

“You don’t have to be a constitutional law expert to understand that the SEC has limited jurisdiction over the crypto industry; unless Congress takes action, first-line regulation of digital assets belongs to the Commodity Futures Trading Commission – the primary regulator of investments that are not considered traditional securities.”

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