Donald Trump

Gary

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/stuart-alderoty-criticizes-gary-genslers-justification-of-crypto-lawsuits/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Stuart Alderoty Criticizes Gary Gensler’s Justification of Crypto Lawsuits</a> 
Stuart Alderoty, Ripple’s Chief Legal Officer, has criticized Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (<a href="https://en.coin-turk.com/bitcoins-btc-recent-performance-and-the-decline-in-the-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a>), for his attempts to justify the <a href="https://en.coin-turk.com/penguiana-surpasses-1500-sol-in-ongoing-pengu-presale-set-to-release-play-to-earn-game-trailer-release-next-month/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> lawsuits initiated by the Commission. Alderoty’s statements come amid speculation that Gensler may soon leave his position as SEC Chairman.
<h2 id="alderoty-critiques-gensler-s-justification-efforts">Alderoty Critiques Gensler’s Justification Efforts</h2>
Alderoty asserted on social media platform X that Gensler is continuing the political campaign initiated by Jay Clayton. He referred to this situation as “the house is on fire,” closely linking Clayton’s actions to the ongoing issues.
<blockquote>
 “This is like the house is on fire, and he’s closely referencing Clayton’s fire.” – Stuart Alderoty
</blockquote>
Alderoty referenced Gensler’s remarks from 2021, where he stated that under Clayton’s leadership, the SEC initiated 80 lawsuits, including the one against Ripple . Gensler indicated that these lawsuits target participants who do not adhere to “common-sense rules” in the <a href="https://en.coin-turk.com/ftx-the-bankrupt-crypto-exchange-sues-layerzero-labs-to-reverse-45-million-deal/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a>.
<h2 id="new-sec-chair-expected-to-favor-crypto">New SEC Chair Expected to Favor Crypto</h2>
Journalist Eleanor Terrett confirmed that the next SEC chair is likely to be pro-crypto. Terrett suggested that the crypto industry and community should focus more on who will be the next chair of the Commodity Futures Trading Commission (CFTC).
<blockquote>
 “The CFTC is expected to take on more responsibility regarding crypto regulation.” – Eleanor Terrett
</blockquote>
Additionally, Ripple CEO Brad Garlinghouse recently expressed satisfaction with the changing regulatory environment. Alderoty called on Donald Trump to end the SEC’s aggressive approach to fulfill the promise of making the U.S. a crypto capital.
The SEC is grappling with challenges surrounding crypto regulations, evidenced by a lawsuit from attorneys general in 18 states accusing the SEC of constitutional overreach. These lawsuits further amplify criticisms of the SEC’s methods for regulating the crypto market.
Alderoty’s statements reflect the ongoing tension between the SEC and the crypto industry. Gensler’s remarks and potential resignation could significantly impact the dynamics within the sector.
Cryptocurrency companies like Ripple are navigating regulatory uncertainties, while the SEC’s stance plays a critical role in shaping the market’s future. The crypto industry is closely monitoring how changes in regulations and new positions will affect their operations.
The post <a href="https://en.coin-turk.com/stuart-alderoty-criticizes-gary-genslers-justification-of-crypto-lawsuits/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Stuart Alderoty Criticizes Gary Gensler’s Justification of Crypto Lawsuits</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Stuart Alderoty Criticizes Gary Gensler’s Justification of Crypto Lawsuits

Table of Contents

COINTURK NEWS

Other articles published on Nov 16, 2024

Dogecoin’s Bullish Momentum: Market Psychology Cycle Points to $10

Saylor doubts $60K Bitcoin retrace, BTC ETF options, and more: Hodler’s Digest, Nov. 10 – 16

Monsta Mash’s Presale Attracts Whales! BTC and ETH additional funds going into altcoins

Bitcoin (BTC) Price Prediction for November 16

Ethereum 'dying a slow death' as ETH breaks 8-year trend vs. Bitcoin

DeFi Technologies Reports Strong Q3 Earnings, Launches Bitcoin Staking Strategy

Join our free newsletter for daily crypto updates!