Ripple’s Top Lawyer Urges SEC to Move Case as Swiftly as Possible


Ripple’s Stuart Alderoty is not a fan of the SEC’s football metaphor

In a recent Twitter thread, Ripple general counsel Stuart Alderoty accused the U.S. Securities and Exchange Commission of playing a “delay card.”

He urged the regulator to move the case “as swiftly as possible.”

SEC Chair Gary Gensler recently used a football metaphor to highlight the enforcement of rules. He tweeted that teams would start breaking rules without fear of penalties, which would make the game unfair.   

Alderoty, however, criticized the SEC for using “regulation by enforcement” in order to achieve charity, claiming that it creates an uneven playing field that creates winners and losers.

Ripple CEO Brad Garlinghouse recently slammed former SEC Chairman Jay Clayton for adopting a pro-cryptocurrency after attempting to stifle the industry with the last-minute lawsuit against Ripple.

Due to worsening pandemic conditions, Ripple and the SEC recently filed a joint letter, asking Judge Sarah Netburn to postpone the expert discovery deadline until Feb. 28. Expert discovery is currently scheduled to end on Jan. 19, but the judge is widely expected to approve the request. Eight expert witnesses are yet to be deposed due to travel difficulties and “unanticipated personal matters.” The postponement is not expected to affect any other deadline in the case.

According to Fox Business reporter Charles Gasparino, Ripple’s legal team sees a silver lining in the delay since it will be possible to depose witnesses for a seven-hour period.  

Ripple is also expecting to get a court ruling on its motion to obtain internal SEC documents, which could possibly explain why Ethereum, not XRP, was given a break by the SEC.



Please enter your comment!
Please enter your name here

Share post:


More like this

Russia On The Ropes–Part 13; Really

Alright. I lied. Russia is not on the ropes....

1 killed, 17 injured in crash outside Pennsylvania bar NPR

BERWICK, Pennsylvania — One person was killed and 17...

These cities have the fastest-growing housing prices, according to Redfin – Portland, Oregon

Portland, Oregon 2022-08-14 08:02:19 – (NEXSTAR) – Recent data...