Ripple general counsel criticizes SEC's strategy, calls it 'bullying' RippleXRP XRPArmy XRPCommunity XRPNews XRPHolders XRPthestandard
In his latest op-ed, Alderoty referred back to Rep. Sherman's"off-base" remarks during an oversight hearing focused on the Securities and Exchange Commission's enforcement division held last week by the House Financial Services Subcommittee.
He writes:"Despite the norm that ongoing enforcement cases are not discussed at these hearings, Subcommittee Chairman Representative Brad Sherman took it upon himself to put his thumb on the scale of the largest enforcement case in crypto: SEC vs. Ripple." Alderoty continues:"Rep. Sherman's behavior highlights the pernicious effect of regulation by enforcement." Rather than provide regulatory clarity through rulemaking, the SEC seeks to bully the market by filing, or threatening to file, enforcement cases. Unproven allegations masquerading as regulation is bad policy that hurts consumers and markets who are whipsawed by the whims of an unchecked regulator.
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