Ripple’s Chief Legal Officer, Stuart Alderoty, has called out officials on their position on cryptocurrencies, criticizing their approach to regulating the industry.
In a tweet, Alderoty expressed his frustration with unelected senior bureaucrats who have prejudged the status of cryptocurrencies as securities. He emphasized the importance of recognizing the consequences of their words and actions on the rapidly growing digital asset industry.
As reported by U.Today, Alderoty also urged caution in joining Massachusetts Senator Elizabeth Warren’s anti-crypto push, reminding politicians of her not-so-successful presidential campaign.
In her efforts to form a unified alliance against the digital asset sector, Warren has been reaching out to conservative Senate Republicans for support on her cryptocurrency bill, which seeks to implement stringent anti-money laundering rules.
As reported by U.Today, the Ripple executive is confident in winning the ongoing legal battle against the SEC, pointing to a recent court opinion that rejected the SEC’s expert views on XRP while allowing Ripple’s experts to remain involved.
He repeatedly slammed SEC Chair Gary Gensler’s anti-crypto position, recently arguing that it could become a political liability for President Joe Biden.
