Main navigation

Ripple's General Counsel Slams SEC's "Political Power Grab"

Thu, 09/08/2022 - 20:28
article image
Alex Dovbnya
Ripple’s Stuart Alderoty has repeatedly criticized the SEC’s efforts to regulate cryptocurrencies
Ripple's General Counsel Slams SEC's "Political Power Grab"
Cover image via
Read U.TODAY on
Google News

Stuart Alderoty, general counsel at blockchain company Ripple, leveled fresh criticism at the U.S. Securities and Exchange Commission in a recent tweet.  

Alderoty accused the SEC of orchestrating a “political power grab.”

Cardano Builder Introduces Daedalus Version for Mainnet. Here's What's New

In a recent speech that was given at an industry conference, SEC Chair Gary Gensler rejected the idea that cryptocurrencies require specific rulemaking.

Gensler has once again signaled that his regulatory agency will continue to apply existing rules to cryptocurrency tokens.

He has also reiterated that the vast majority of existing cryptocurrencies are securities.

The SEC boss urged cryptocurrency platforms to abide by rules and register with the agency voluntarily.

Ripple is currently enmeshed in a grueling legal battle with the SEC, whose outcome is widely believed to have massive implications for the cryptocurrency industry.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at