Ripple CLO Stuart Alderoty highlights another loss from SEC and Gensler

Stuart Alderoty, Ripple’s chief legal officer, has faced yet another accusation against the U.S. Securities and Exchange Commission (SEC) and its chairman, Gary Gensler. This comes after an appeals court temporarily suspended the SEC’s climate disclosure rules.

Ripple CLO Slams SEC and Gary Gensler

Stuart Alderoty has been a major critic of the regulatory actions and policies of the U.S. SEC under Gary Gensler. The judges called the SEC’s actions capricious and arbitrary, and even called out Gary Gensler’s hypocrisy in the Ripple lawsuit. The SEC lost many arguments against Ripple.

Ripple CLO filed suit against “Another week goes by and Gensler’s SEC suffers another loss,” Alderoty said.

The U.S. Court of Appeals for the Fifth Circuit ruled in favor of Liberty Energy, temporarily suspending the SEC’s climate reporting regulations. The order is a major setback for the SEC in its legal battle over rules requiring companies to report greenhouse gas emissions and other climate-related disclosures.

Earlier this month, Ripple CLO Stuart Alderoty criticized the US SEC for presenting previous court decisions to judges as “secondary authority” without disclosing that the decision was actually a “default ruling”. The SEC’s move drew backlash from lawyers, including Coinbase CLO Paul Grewal.

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SEC rejects need for crypto regulatory clarity

The SEC’s actions against cryptocurrency companies have been seen as excessive amid a lack of clarity about cryptocurrency regulation. Additionally, the U.S. Congress has not assigned SEC jurisdiction over the cryptocurrency industry, with the dispute between commodities regulator CFTC and securities regulator SEC still on the table.

Moreover, the SEC has denied the need for new regulations for cryptocurrencies and believes that existing securities laws are sufficient to regulate new cryptocurrency technologies. In response, Coinbase filed an opening brief in its lawsuit against the SEC, challenging the lack of clear regulatory guidance for the cryptocurrency industry after the SEC failed to consider its rulemaking petition.

Meanwhile, the Ripple vs. SEC lawsuit is nearing completion, with the XRP community and Ripple lawyers waiting for the SEC to file a brief on discovery relief on March 22. If Judge Torres makes a cautious decision in the pivotal case, the case could extend significantly into 2025.

Also Read: Top Analyst Predicts Bitcoin Price Adjustment To $63,000, This Is The Best Time To Sell Meme Coins

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Varinder has 10 years of experience in fintech and has been working on blockchain, cryptocurrency and Web3 development for over 5 years. A technology enthusiast and analyst, he has shared his knowledge of disruptive technologies through over 5000 news, articles and papers. Through CoinGape Media, Varinder believes in the enormous potential of these innovative future technologies. He currently covers all the latest updates and developments in the cryptocurrency industry.

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