Ripple’s General Counsel, Alderoty Tagged SEC Approach A “Bullying” While Stating The Urgent Need For a Comprehensive Legislative Structure For Crypto From The U.S.
In the ongoing case between SEC and Ripple where the former filed a misguided law action against Ripple alleging that XRP is a security. Ripple uses XRP (a cryptocurrency that exists on an open, permissionless, decentralized blockchain ledger) in its product offering to facilitate faster, cheaper, and more transparent cross-border payments.
As previously reported the case has been since 2020 but last week, an oversight hearing focused on the SEC enforcement division was held by a House Finance Services Subcommittee, the Brad Sherman brought up the case of SEC against Ripple despite that something of such was planned to be discussed in the hearings. But Rep. Sherman, who was the Havard Lawyer, took it upon himself to raise the idea of the “scale of the largest enforcement case in crypto...