Ripple's legal team, led by Chief Legal Officer Stuart Alderoty, has called for a fact-check of a recent speech by SEC Chair Gary Gensler, highlighting perceived contradictions between his words and actions. Gensler, speaking at the 2023 Securities Enforcement Forum, reiterated the SEC's role as both a partner to honest businesses and a prosecutor of dishonesty.
Alderoty accused Gensler of prejudging the crypto industry and initiating lawsuits without thorough investigation. He emphasized that although Ripple was sued by the SEC, it was never charged with dishonesty. Further, he accused the SEC of engaging in shady behavior and becoming increasingly irrelevant internationally.
Erik Voorhees, CEO of ShapeShift, echoed these sentiments, stating that Gensler had prosecuted his honest business twice. Additionally, community members criticized Gensler's remarks, suggesting that the SEC's current actions are facilitating the legitimization of a corrupt system.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.