Ripple Labs Legal Chief Criticizes SEC Chair Gary Gensler's Remarks

According to CryptoPotato, Ripple Labs and the SEC are in the discovery phase of the Ripple case until February. Recently, SEC Chair Gary Gensler gave a speech quoting the first SEC chair, Joseph P. Kennedy, which sparked a skirmish between the Commission and members of the crypto industry. In his speech, Gensler praised Kennedy's words as a model for the SEC's ethical behavior as a government regulatory agency. However, Ripple's legal chief, Stuart Alderoty, criticized Gensler's SEC, citing numerous counterexamples to Gensler's speech, such as the SEC losing in court, being criticized by judges for shady behavior, and being rebuked by the government's internal auditor. Alderoty also raised the issue of the Hinman documents, which could remain a problem for the SEC as it prosecutes Ripple and several cryptocurrency exchanges and custodians. He pointed out that Ripple was sued but never charged with dishonesty, and the failed case against it was prejudged, beginning with the ethically compromised Bill Hinman. Alderoty accused Gensler of prejudging crypto and filing suit against others without investigation.