Ripple General Counsel Stu Alderoty took the Securities and Exchange Commission to task this week for what he characterized as an attempt to destroy the cryptocurrency industry, which has recently seen choppy waters amid falling bitcoin prices.
“By bringing enforcement actions—or threats of potential enforcement—the SEC intends to bully, bulldoze, and bankrupt crypto innovation in the U.S., all in the name of impermissibly expanding its own jurisdictional limits,” Alderoty said. ”To unlock crypto’s true potential, we need to finally clean up this regulatory sludge.”
Stuart Alderoty, general counsel of Ripple. (Courtesy photo)