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As the SEC has responded to multiple amicus briefs filed recently by various companies to support Ripple Labs, Stuart Alderoty, general counsel at Ripple, took to Twitter to criticize the regulator's behavior.
SEC's new move regarding amicus briefs
In response to the manifold amicus briefs filed in favor of Ripple over the past two weeks, the securities regulator has filed a motion to gain more time for filing reply briefs. The SEC also asked that, should there be any more amicus briefs, they should be filed by Nov. 21.
Ripple has agreed to this, according to the filing the SEC submitted to Judge Torres.
According to Ripple chief executive Brad Garlinghouse, over 12 companies have recently filed amicus briefs in support of Ripple Labs versus the regulator. That number includes the largest U.S.-based crypto exchange Coinbase, which has been a publicly-traded company since April of last year.
Ripple's general counsel slams SEC
Stuart Alderoty took to Twitter to bash the SEC for this move. He stated that as "a dozen of independent voices" have filed in to support Ripple and "explain, how dangerously wring the SEC is," the regulator just required more time "to blindly bulldoze on it."
A dozen independent voices - companies, developers, exchanges, public interest and trade assoc.’s, retail holders - all filing in SEC v Ripple to explain how dangerously wrong the SEC is. The SEC’s response? We need more time, not to listen or engage, but to blindly bulldoze on. https://t.co/PRgvwI9m2X— Stuart Alderoty (@s_alderoty) November 3, 2022
In early October, Alderoty stated on a podcast that if Ripple wins against the SEC, this could be the best chance of the crypto space to get regulatory clarity.