Ripple Lawyer Says SEC Actions Considered ‘Shady’

As Gary Gensler reiterated the mandate of the United States Securities and Exchange Commission (SEC) in a speech, Ripple’s lawyer and several members of the crypto community responded, criticizing the SEC chairman and arguing that the commissioner’s words contradict his Actions.

On November 16, SEC Chairman Gary Gensler shared a video of him giving a speech at the 2023 Securities Enforcement Forum. In the speech, he highlighted the words of the SEC’s first chairman, Joseph P. Kennedy, saying that the government agency must be “a partner in honest business and a prosecutor against dishonesty.”

As Joseph P. Kennedy, the first @SECGov Chair, once said: “We are not prosecutors of honest business, nor defenders of crookedness. We are partners of honest business & prosecutors of dishonesty. We shall not prejudge, but we shall investigate.”

Check out my recent remarks: pic.twitter.com/QM2zqj8PQs

— Gary Gensler (@GaryGensler) November 16, 2023

As Joseph P. Kennedy, the first president of the @SECGov, once said: “We are not prosecutors of honest business, nor defenders of dishonesty. We are partners of honest business and prosecutors of dishonesty. We will not prejudge, but we will investigate.” . Take a look at my recent statements:

The post on According to Alderoty, the SEC Chairman’s recent comments should be contrasted, as Gensler has “prejudged cryptocurrencies and sued others without investigating.”

The SEC is losing in court; being criticized by Judges for shady behavior; being rebuked by the Gov’t’s internal auditor; hiding info about meetings with a felon; becoming irrelevant on the international stage. Gensler – admitting no fault – has become the insulate Col. Jessep. pic.twitter.com/vqjPPcifr8

— Stuart Alderoty (@s_alderoty) November 16, 2023

The SEC is losing in court; she is being criticized by the judges for her shady behavior; is being reprimanded by the government’s internal auditor; you are hiding information about meetings with a criminal; is becoming irrelevant on the international scene. Gensler – without admitting any guilt – has become the isolated Colonel Jessep.

Alderoty also highlighted that Ripple was sued, but “never accused of dishonesty.” The Ripple executive also leveled some accusations at the SEC, saying that they are being criticized for “shady behavior” and becoming “irrelevant” internationally.

Aside from Alderoty, several members of the cryptocurrency community also responded to the video Gensler shared. Erik Voorhees, founder and CEO of trading platform ShapeShift, responded to the post, saying that Gensler has gone after his “honest business” twice.

For his part, a community member also responded to Gensler’s remarks, saying that what he cited “was the vision.” However, the Twitter user argued that he has evolved worse, accusing the SEC of facilitating the “legitimization of a corrupt system.”

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