Ripple Legal Chief: It’s Not A Crypto Problem For Gary Gensler

Also Read: Do Kwon To Be Released From Jail As Court Accepts $436K Bail

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Meanwhile, the XRP token holder community, which has been loyal despite the legal process with the SEC lawsuit, is awaiting the summary judgment from Judge Analisa Torres, who is overseeing the case.

Ripple Chief Legal Officer Blasts Gary Gensler

Alderoty made the comments in reference to the SEC’s legal battle with Ripple, calling it the agency’s usage of judicial process as a “weapon to be wielded.” He added that it was not actually a crypto problem but a constitutional problem, indicating to the preamble of the constitution of the United States.

“For this SEC Chair the judicial process is a weapon to be wielded and Congressional oversight is a game of hide and seek. This isn’t a crypto problem, this is a “We The People” problem.”

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Hence, the resolution should come from new laws governing the SEC’s crypto oversight. Recently, the US House Republican committee under the leadership of Patrick McHenry, Chairman of the US House Committee on Financial Services, felt that the existing laws are neither compatible with the underlying technology nor applicable.

Also Read: Crypto Liquidation Nears $150 Million; Bitcoin Fears To Drop Under $26K

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