The General Counsel of Ripple Labs, Stuart Alderoty, has criticized the US Securities and Exchange Commission (SEC) for its ongoing crackdown on the crypto industry. Alderoty argues that the SEC is overstepping its jurisdiction by claiming that cryptocurrencies are securities. He believes that the SEC’s actions are motivated by a political power play and do not benefit anyone. Legal experts suggest that Ripple may have an advantage in its lawsuit against the SEC for at least the next two years. The Ripple vs SEC case is considered a precedent for future similar cases in the crypto industry.
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