Ripple General Counsel: “SEC Chairman Gary Gensler Should Also Be Tried With SBF”

Ripple (XRP) General counsel Stuart Alderoty made remarkable statements about FTX founder Sam Bankman-Fried and SEC chairman Gary Gensler.

Several reports have emerged suggesting that Sam Bankman-Fried (SBF), the former CEO of FTX, has met with SEC Chairman Gary Gensler multiple times to help the stock market with loopholes.

While these reports sparked controversy in the crypto world, Stuart Alderoty, Ripple’s General Counsel, also expressed his views on the subject. In a tweet today, Alderoty said the investigations are in place.

“However, this investigation should not hide the market damage (and consumer harm) that the SEC continues to wreak in the absence of regulatory clarity in the US,” he said.

Ripple General Counsel Alderoty: Gensler Needs to Answer Some Questions

Alderoty raised questions that investigators should ask Gensler during interrogations about his conversations with the SBF:

“Investigators should ask: Was Gary Gensler acting alone while meeting with the SBF? Was this the President’s last push to finally get the elusive SEC license he was after? Could SBF have even more consumer assets under its control?”

Ripple General Counsel referred to Gensler’s frequent calls to crypto-related companies, asking them to “come and sign up”. Alderoty, SEC’s cryptocurrency He said that he did not need to persuade his companies to register, that if the institution were the valid controller of cryptocurrencies, the registrations would develop spontaneously.

“So the method the SEC resorted to was regulation by enforcement,” Alderoty added.

Last year, Brad Garlinghouse criticized the SEC’s so-called meetings with crypto firms, saying that the agency used these meetings as precursors for enforcement actions.

*Not investment advice.