Legal experts argue that the SEC misleads judges by using the term “crypto asset security.”
Ripple CLO claims the term “crypto asset security” is fabricated and lacks legal basis.
Judge Orrick in the Kraken case, rejected the SEC’s terminology.
Legal experts, including Ripple’s Chief Legal Officer, argue that the U.S. Securities and Exchange Commission (SEC) continuously attempts to mislead judges by using the term “crypto asset security” without legal grounding. Meanwhile, in the SEC v. Payward (Kraken) case, Judge Orrick pushed back against this tactic.
Ripple CLO Stuart Alderoty called out the SEC’s tactics on X, stating that the term “crypto asset security” is a made-up phrase with no legal foundation. Alderoty pointed out that the SEC is intentionally using the term “crypto asset security” to mislead courts into expanding securities laws to include digital assets.
He argued that the term has no legal basis in any statute. “It is a fabricated term with no legal basis,” Alderoty said. The Ripple legal expert expressed this view while responding to the SEC’s motion to challenge FTX’s move to repay debtors with stablecoin. In the legal statement p…
The post Ripple CLO Slams SEC’s “Fabricated” Terminology in Crypto Regulation Cases appeared first on Coin Edition.
