Ripple’s Chief Legal Officer, Stuart Alderoty, has issued a statement in response to the Securities and Exchange Commission’s (SEC) decision to appeal the recent court ruling in the XRP case.
Ripple Chief Legal Officer Questions Critical Official’s Resignation Ahead of SEC Appeal Decision in XRP Case
Alderoty expressed disappointment but not surprise at the SEC’s move, calling it a continuation of the agency’s “litigation warfare” against the cryptocurrency industry. He emphasized that the court had already rejected the SEC’s claims of recklessness and fraud, and there were no allegations of victims or losses.
“This agency, under this Chair, continues to engage in litigation warfare against the industry,” Alderoty stated. “We are evaluating whether to file a cross appeal. Either way, the SEC’s lawsuit has been irrational and misguided from the start, and we’re ready to prove that yet again in the appellate court.”
Alderoty also raised questions about the timing of the SEC’s appeal, noting that it coincided with the announcement of the agency’s Enforcement Director’s resignation. “Coincidence that the SEC’s Enforcement Director announced his resignation about an hour before this?” he asked.
