The post Ripple’s Top Lawyer Slams SEC for Market Suppression appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In criticism of the U.S. Securities and Exchange Commission (SEC), Ripple’s Chief Legal Officer Stuart Alderoty has accused the regulatory body of engaging in actions that have artificially suppressed the cryptocurrency market. In a recent tweet, Alderoty wrote, “Turns out, the only ‘efforts of others’ that truly moved crypto markets—by causing massive and prolonged artificial suppression—were those of the SEC.” The U.S. Securities and Exchange Commission sued Ripple in December 2020, alleging that the San Francisco-based business violated the law by selling XRP without first registering it as a security. Turns out, the only ‘efforts of others’ that truly moved crypto markets—by causing massive and prolonged artificial suppression—were those of the SEC. — Stuart Alderoty (@s_alderoty) December 2, 2024 The agency, under Chair Gary Gensler, then filed lawsuits against several digital asset companies, including Coinbase Global and Binance Holdings. Related While Bitcoin, the largest digital asset, is considered a commodity, the SEC, led by Gensler, contends that the majority of other tokens are unregistered securities that should be subject to its control. Gensler now wants to step down in January, which has contributed to XRP’s recent price increase. Overall, digital assets flagged as “unregistered securities” in previous SEC litigation, such as ADA and SOL, have benefited from this positive sentiment. XRP hits record inflow The comments from…

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Filed under: News - @ December 3, 2024 12:09 am