Ripple’s Chief Legal Officer, Stuart Alderoty, criticized SEC Chairman Gary Gensler for evasive answers during a congressional hearing. Alderoty accused Gensler of being unable to directly answer fundamental questions and instead criticizing the cryptocurrency sector. Gensler’s responses were labeled as “deafening and damning” by Rep. Ritchie Torres. Some in the XRP community questioned Gensler’s priorities and accused him of prioritizing personal wealth over public service. The criticism comes as the SEC and Gensler face intense scrutiny and lawsuits challenging their recent regulations. The tension between regulators and the cryptocurrency industry is highlighted by such hearings. It’s important to note that Gensler’s evasive style of answering is typical in such settings.
AI Sentiment: Negative