Ripple CLO Stuart Alderoty has recently made an X post on US SEC Commissioner Caroline Crenshaw, that has caught the eyes of the investors. In his social media post, Alderoty has cited reasons, saying that Crenshaw is even worse than the US SEC Chair Gary Gensler in many cases. Notably, this comes as the crypto market enthusiasts heavily criticized the SEC commissioner, deeming her as one of the anti-crypto regulators.

Ripple CLO Stuart Alderoty Slams Caroline Crenshaw

As the Senate prepares to vote on Crenshaw’s renomination, the crypto community has raised significant concerns, calling for a halt to her reappointment. Ripples CLO Stuart Alderoty and other prominent figures argue that her policies could stifle innovation in the digital asset space.

Notably, in a recent X post On his social media, Alderoty accused Crenshaw of defying legal judgments. He noted that while US SEC Chair Gary Gensler conceded after a court deemed the agency’s denial of Bitcoin spot ETFs as “arbitrary and capricious,” Crenshaw held her ground. She continued to oppose the ruling, effectively arguing that the court was wrong, Alderoty said. “Unelected bureaucrats are not above the law” he stated.

Meanwhile, this criticism comes ahead of the Senate Banking Committee’s vote on Crenshaw’s second term later today. The Digital Chamber has already urged senators to reject her renomination, citing her anti-crypto stance as a barrier to progress. Bill Hughes, a lawyer at ConsenSys, echoed these sentiments, warning that reappointing Crenshaw would mark a step backward for the industry.

Hughes said Crenshaw’s track record is hostile to crypto. He argued that her policies starkly contrast the growing support for innovation within the US government. He pointed to the recent nomination of crypto-friendly Paul Atkins as SEC Chair by President-elect Donald Trump as evidence of this shift.

Crypto Leaders Voiced Frustration

Coinbase CEO Brian Armstrong also weighed in, labeling Crenshaw’s tenure as a “failure.” Armstrong criticized her for opposing Bitcoin ETFs more aggressively than Gensler, a similar sentiment to Ripple CLO Stuart Alderoty. Armstrong said that Crenshaw’s views are out of touch with the future of finance, which could hinder the growth of the sector.

The growing opposition to Crenshaw reflects broader tensions within the crypto space. Regulators like her are seen as roadblocks to innovation, while others advocate for a more balanced approach. For context, a recent FOX report also suggests that the crypto lobby has voiced its frustration against the US SEC Commissioner.

As the Senate Banking Committee gears up for its decision, the stakes are high. A vote to confirm Crenshaw would signify a challenge for the crypto industry, potentially reinforcing regulatory hostility. Conversely, rejecting her could mark a pivotal shift toward embracing technological advancements.

The post Ripple CLO Reveals Why Caroline Crenshaw Is Worse Than Chair Gary Gensler appeared first on CoinGape.

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Filed under: News - @ December 11, 2024 8:19 am