Ripple asks SEC chair to recuse self from crypto enforcement cases

Ripple’s Chief Legal Officer, Stuart Alderotti, has sued SEC Chairman Gary Gensler for his prior judgment on any enforcement action related to cryptocurrencies. asked to refrain from voting.

In a February 28 tweet, Arderoti hinted that Genslers statement that all cryptocurrencies, except BTC, are unregistered securities is evidence of his attitude towards other crypto assets.

Ripple formula Quote Litigation between Antoniu and the SEC as basis for his claims.

in the casethe SEC’s attempt to permanently ban the hiring of stockbrokers from brokerage firms failed because the regulator’s commissioner pre-determined the case in his public statement.

The court ruled that it had no way of ascertaining how the commissioner’s participation affected the SEC’s deliberations, adding that the commissioner’s continued involvement in disqualification proceedings violated due process.

SEC Chairman Gary Gensler has repeatedly stated that most crypto assets are securities. Under him, financial regulators took enforcement action against several crypto companies for violating federal securities laws.

Meanwhile, the SEC and Ripple are embroiled in a legal battle over the classification of XRP.

Journalist at CryptoSlate

Oluwapelumi believes in the transformative power of Bitcoin and the blockchain industry.