Gensler to Make Final Strike Against Ripple Before Resigning

In its last move against Ripple under the current administration, the U.S. Securities and Exchange Commission is on track to file its opening brief in its appeal of the case later this week. 

Stuart Alderoty, Ripple's chief legal officer, claims that his team asked the regulator to agree to postpone the filing of the brief. However, the SEC refused to delay it.

That said, Ripple remains confident in its position on appeal, according to Alderoty. 

He has added that the company is "looking forward" to working with the incoming pro-crypto administration. Last month, Paul Atkins, a former SEC commissioner known for his libertarian views, was picked to spearhead the agency. 

Ripple CEO Brad Garlinghouse has also stated that the SEC's refusal to postpone the filing was very "on brand" for Gensler. 

The SEC filed in notice of appeal in the longstanding Ripple case back in October. The company then responded with its cross-appeal

As reported by U.Today, Gensler recently defended the SEC's crypto crackdown during one of his last interviews as the head of the agency, arguing that the industry was rife with nefarious actors. He also stated that the agency's enforcement actions were in line with the previous administration. 

Former SEC Chair Jay Clayton famously brought the lawsuit against Ripple during the last days of his administration.  

Alderoty previously urged the incoming SEC boss to put an end to all non-fraud cases against the cryptocurrency industry. However, it remains to be seen whether Atkins will give the industry a free pass. 

Gensler will leave the SEC in less than a week from now.