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Ripple’s top lawyer calls on the SEC to move the case forward as soon as possible

Ripple general counsel Stuart Alderoty accused the US Securities and Exchange Commission of using the “delay card” in a recent Twitter exchange.

He encouraged the agency to bring the case forward “as soon as practicable.”

Gary Gensler, the SEC’s chair, recently utilized a football metaphor to emphasize the need of rule enforcement. He claimed that if teams could break the rules without fear of punishment, the game would become unfair.

Alderoty, on the other hand, chastised the SEC for pursuing charity through

“regulation by enforcement,” stating that it creates an unequal playing field with winners and losers.

Former SEC Chairman Jay Clayton was recently chastised by Ripple CEO Brad Garlinghouse. Of course, for adopting a pro-cryptocurrency stance after seeking to suffocate the industry with a last-minute lawsuit against Ripple.

Ripple and the SEC recently issued a joint letter with Judge Sarah Netburn. Thereby, requesting that the expert discovery deadline be postponed until February 28 due to increasing pandemic conditions. Expert discovery is set to conclude on January 19, although the judge is largely expected to grant the motion. Due to travel issues and “unexpected personal matters,” eight expert witnesses have yet to be deposed. No other deadlines in the case are expected to be affected by the postponement.

Ripple’s legal team finds a silver lining in the postponement. That’s, according to Fox Business reporter Charles Gasparino, because witnesses will be able to be deposed for seven hours.

Ripple is also anticipating a court verdict on its demand to get internal SEC records. Of course, which could explain why the SEC gave Ethereum, not XRP, a break.

Related Posts – Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul

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