Stuart Alderoty, the chief legal officer of Ripple, has publicly addressed the business’s resistance to the SEC’s request for $2 billion in fines, marking the latest development in the ongoing legal struggle between the SEC and the cryptocurrency startup. Alderoty stressed that Ripple will continue to oppose the SEC’s request for remedies.
Alderoty emphasised that Ripple had won the case on a number of important points and that there had been no accusations or conclusions of carelessness or fraud against the business. He blasted the SEC’s demand for astronomical fines, calling it another proof of the regulatory body’s bullying of the US bitcoin market as a whole.
Even though the SEC is pushing for harsh punishment, Alderoty said he was confident in the justice system’s impartiality. He confirmed Ripple’s faith that the court would handle the last stage of remedy determination impartially.
The announcement from the Ripple CLO comes in the midst of a heated legal dispute between the SEC and the cryptocurrency corporation about the categorization of the XRP coin and potential breaches of securities laws.
https://x.com/s_alderoty/status/1782579957874749647
The scenario is set for an epic clash, with the future of both XRP and the larger cryptocurrency market in jeopardy. The ultimate outcome of this legal drama is still up in the air as Ripple keeps reiterating its stance and the SEC steps up its enforcement actions.
