Ripple CLO Stuart Alderoty Criticizes Gensler With New Effort Against Binance

Key Points:

• Ripple CLO Stuart Alderoty criticized SEC Chair Gary Gensler for continuing crypto litigation, including filing a new brief against Binance.
• The SEC opposes Binance’s motion to dismiss claims that it sold unregistered securities, with Alderoty dismissing the agency’s arguments as recycled and flawed.

Ripple CLO Stuart Alderoty has lashed out at U.S. Securities and Exchange Commission Chair Gary Gensler over the latter’s agency’s continued attacks on the crypto industry.

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Ripple CLO Stuart Alderoty Slams SEC Chair Over Binance Case Filing

The comments come after the SEC’s most recent filing in its legal tussle with Binance, which Ripple CLO Stuart Alderoty claimed recycled “failed arguments” and an “absurd claim that crypto has no inherent value.

The eight-page memorandum by the SEC opposes Binance’s motion to dismiss the agency’s amended complaint. According to the Commission, Binance offered and sold unregistered securities, including BNB and ten other crypto assets, in the form of an investment contract. Binance has reacted with a motion to dismiss all claims.

Alderoty questioned why the SEC was continuing with crypto-related litigation when new leadership might come aboard in a few weeks. His comments come amidst news that Donald Trump is nominating Paul Atkins, a well-known critic of the SEC’s aggressive regulatory stance, to replace Gensler in case Trump’s administration takes over.

Alderoty Slams SEC’s Regulatory Impact on Crypto Market

Ripple CLO Stuart Alderoty has repeatedly criticized the SEC’s approach toward crypto regulation, claiming the agency’s hardline approach has “crippled the industry” for years. For Alderoty, what’s affecting the market is, first and foremost, regulatory issues rather than anything related to organic market forces.

The comments represent the latest salvo in a series of skirmishes between Ripple and the SEC. Ripple has been embroiled in a lawsuit with the latter for the perceived sale of its native cryptocurrency, XRP, as an unregistered security.