Ripple CLO Stuart Alderoty raises constitutional concerns over the SEC’s continued classification of XRP as a security.
Ripple CEO Brad Garlinghouse criticizes the SEC for defying a court ruling on XRP.
The company is considering further legal action against the SEC.
Ripple’s Chief Legal Officer, Stuart Alderoty, has expressed constitutional concerns regarding the SEC’s ongoing classification of XRP as a security, despite a court ruling to the contrary. In a post on X on Friday, Alderoty suggested that the SEC’s actions could undermine the legitimacy of regulatory enforcement.
This latest commentary emerged amid a new lawsuit involving the crypto exchange Bitnomial, in which the SEC reiterated its position that XRP is a security. Recall that in July 2023, District Judge Analisa Torres ruled that XRP, on its own, is not a security.
Bitnomial Lawsuit Challenges SEC Over XRP Futures
Bitnomial, a crypto derivatives exchange, recently filed a lawsuit against the SEC in an Illinois district court. It seeks to contest the agency’s claim that Bitnomial’s proposed XRP Futures contract falls under SEC jurisdiction.
Bitnomial had sought app…
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