Ripple’s Legal Adviser Urges The SEC to Move The Case As Soon As Possible.

Stuart Alderoty of Ripple is not a fan of the SEC as it delays the lawsuit.

Ripple general counsel Stuart Alderoty recently accused the Securities and Exchange Commission of playing the “delay card” in a Twitter discussion.

He asked the agency to proceed with the matter “as soon as possible.”

SEC Chair Gary Gensler previously used a football metaphor to emphasize the importance of rule enforcement. He claimed that teams will begin breaching regulations without fear of punishment, making the game unfair.

Alderoty, on the other hand, chastised the SEC for adopting “regulation by enforcement” to achieve charity, stating that it promotes an unfair playing field with winners and losers.

Ripple CEO Brad Garlinghouse publicly chastised former SEC Chairman Jay Clayton for embracing bitcoin after seeking to suffocate the market with a last-minute lawsuit against Ripple.

Ripple and the SEC recently submitted a joint letter requesting Judge Sarah Netburn to delay the expert discovery deadline until Feb. 28 due to increasing pandemic circumstances. Expert discovery is set to conclude on January 19, although the court is highly expected to grant the motion. Due to travel issues and “unanticipated personal matters,” eight expert witnesses have yet to be deposed. Any other deadlines in the lawsuit are not likely to be affected by the extension.

According to Fox Business reporter Charles Gasparino, Ripple’s team of lawyers sees a silver lining in the delay since witnesses will be able to be deposed for seven hours.

Ripple is also anticipating a court judgement on its demand to get internal SEC records, which might explain why the SEC gave Ethereum a reprieve rather than XRP.

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Patrick

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