As SEC Chairman Gary Gensler prepares to step down on January 20, Ripple executives have voiced strong criticism of his approach to crypto regulation and the ongoing litigation between Ripple and the SEC.
Ripple Chief Legal Officer Stuart Alderoty criticized the SEC's decision not to delay the deadline to file an opening brief in the appeal of the company's recent legal victory.
Alderoty said in a statement:
“On January 20th, Gensler's SEC war on crypto comes to an end. We asked the SEC to agree to delay the filing of the opening brief in the appeal of our victory (current deadline is January 15th) and they refused. What a waste of time and taxpayer money!”
Despite the setback, Alderoty said he was confident in the company's legal position and was optimistic about working with the new SEC administration to resolve the case.
Ripple CEO Brad Garlinghouse also took the floor and harshly criticized Gensler’s regulatory approach. “With complete disregard for the 2024 election and the American people, Gensler is fully committed to his failed ‘sanctions-based regulation’ agenda,” Garlinghouse said.
Ripple scored a partial victory after a federal judge ruled that XRP is not a security when sold to individual investors.
*This is not investment advice.
