Ripple’s Chief Lawyer Roasts SEC, Offers Updated Logo

The SEC is within the information once more as Ripple’s chief authorized officer, Stuart Alderoty, took to social media to criticize the company’s inconsistent method to cryptocurrency regulation. This isn’t the primary time the company has confronted criticism within the crypto house.

However Alderoty’s feedback seem to indicate that many within the trade are pissed off that they nonetheless lack clear regulatory steerage, even after quite a few enforcement actions.

In response to the SEC’s newest investor alert, which once more warned about quite a lot of cryptocurrency scams, Alderoty highlighted the contradictions within the company’s regulatory framework, particularly because it pertains to rising fraud schemes similar to “pig slaughter.”

He identified that the regulator has been inconsistent in its use of the time period “crypto asset safety,” as it’s now not utilized in its newest investor alert.

The SEC’s warnings, whereas severe, come at a time when the SEC’s regulatory positions are additionally below hearth for creating confusion fairly than readability.

What makes Alderoty’s response so placing is not only what he mentioned, but in addition the photographs he shared. He reworked the regulator’s brand right into a pretzel, symbolizing his view on the company’s more and more advanced laws.

His criticism comes instantly after the SEC reached a settlement with buying and selling platform eToro. In that case, Ethereum was acknowledged as a non-security, which solely added gas to the continuing debates over the inconsistent classification of crypto belongings on behalf of the company.