Ripple's Lawyer and Crypto Community Criticize SEC Chair Gary Gensler's Remarks

According to Cointelegraph, Ripple's chief legal officer, Stuart Alderoty, and various crypto community members have criticized the United States Securities and Exchange Commission (SEC) chairperson Gary Gensler's recent remarks. On November 16, Gensler shared a video of him conducting a speech at the 2023 Securities Enforcement Forum, where he reiterated the SEC's mandate and quoted the first SEC chairperson, Joseph P. Kennedy. Gensler emphasized that the government agency should be 'partners of honest business and prosecutors of dishonesty.' Alderoty, who is currently engaged in a legal battle against the SEC, responded to Gensler's remarks, stating that they should be fact-checked and that Gensler has 'prejudged crypto and has filed suit against others without investigation.' Alderoty also pointed out that Ripple was sued but was 'never charged with dishonesty.' He accused the SEC of being criticized for 'shady behavior' and becoming 'irrelevant' internationally. In addition to Alderoty, other crypto community members also responded to Gensler's video. Erik Voorhees, the founder and CEO of trading platform ShapeShift, commented that Gensler has prosecuted his 'honest business' twice. A community member also responded to Gensler's remarks, stating that what he quoted 'was the vision,' but argued that it evolved for the worse, accusing the SEC of facilitating the 'legitimization of a corrupt system.'