Ripple’s General Counsel has urged US lawmakers to pass “enlightened cryptography” amid the Securities and Exchange Commission (SEC) lawsuit over the sale of xrp. “Instead of clarifying regulation through rulemaking, the SEC is bullying the crypto market by filing unproven allegations disguised as regulation,” he opined.
Ripple Lawyer Demands “Wise” Crypto Regulation
Ripple general counsel Stuart Alderoty stressed the importance of sensible cryptocurrency legislation in an opinion piece released Wednesday.
Rep. Brad Sherman (D-CA) to run the SEC Chasing major cryptocurrency exchanges traded XRPAlderoty emphasized:
Sherman’s unsubstantiated statements underscore the urgent need for sensible cryptography legislation from Washington.
In December 2020, the SEC sued Ripple Labs, CEO Brad Garlinghouse, and co-founder Chris Larsen. XRP The sale was an unregistered securities offering. Ripple said he disagreed with the SEC and has since been in a legal battle with securities regulators.Recently, Girling House discussed Possible Outcomes of Litigation.
Alderoti said “the facts remain” of Rep. Sherman.XRP … Obviously security. However, Ripple’s lawyer argued that the “real facts” were:
Filing a lawsuit will not decide anything.
Noting that lawmakers were trained lawyers at Harvard University, Alderoti argued: XRP Be security.he knows that no country in the world has decided XRP Be security. He knows the matter needs to be decided in court. somehow XRP A lawyer for Ripple explained that it had not yet decided whether it was a security, adding that “when it does, it will be done by the courts.”
Alderoti has criticized the SEC’s approach to regulating the cryptocurrency industry, especially how the Securities and Exchange Surveillance Agency handles proceedings against Ripple and its executives. XRP.
He tweeted on Wednesday:
Rather than articulate regulation through rulemaking, the SEC is bullying the crypto market by filing unproven allegations disguised as regulation.
Do you think the US Congress will pass sensible crypto laws to help Ripple’s case? Let us know in the comments section below.
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