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<p>The post <a rel="nofollow" href="https://coinpedia.org/news/xrp-news-ripple-clo-calls-sec-filing-a-hypocritical-pivot/">XRP News: Ripple CLO Calls SEC Filing a “Hypocritical Pivot”</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The SEC has filed another <a href="https://coinpedia.org/news/sec-files-reply-memorandum-in-ripple-case-find-out-possible-outcome/">interlocutory appeal</a>—designed to seek preliminary judicial review—to further its case against Ripple.</p> 
<p>Stuart Alderoty, Ripple’s Chief Legal Officer, wasted no time labeling the SEC’s recent interlocutory appeal filing as “hypocritical.” Alderoty, who also serves as general counsel in the lawsuit, doubled down on the SEC’s Chairman Gary Gensler’s seemingly inconsistent stance. He pointed out that despite years of insisting “rules are clear and must be obeyed,” the SEC is now pleading for an urgent appeal to resolve “knotty legal problems.”</p> 
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   <p lang="en" dir="ltr">Another SEC filing, another hypocritical pivot…<br><br>After years of its chairman saying the “rules are clear and must be obeyed” the SEC now cries that an appeal is urgently needed to resolve these “knotty legal problems." <a href="https://t.co/ige4neIWRD">https://t.co/ige4neIWRD</a></p>— Stuart Alderoty (@s_alderoty) <a href="https://twitter.com/s_alderoty/status/1700284167995392031?ref_src=twsrc%5Etfw">September 8, 2023</a>
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<h2 id="deaton-chimes-in" data-name="deaton-chimes-in" class="wp-block-heading">Deaton Chimes In </h2> 
<p>John E. Deaton, Founder of Crypto Law, <a href="https://twitter.com/JohnEDeaton1/status/1700302912071569750">echoed</a> Alderoty’s sentiment. </p> 
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 <p>“People unfamiliar with the U.S. SEC v. Ripple Labs might think Alderoty is harsh,” Deaton said. “But those in the know realize that when Alderoty calls the SEC ‘hypocritical,’ he’s simply reiterating the federal judge’s own words.”</p> 
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   <p lang="en" dir="ltr">Someone unfamiliar w/<a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f19a.png" alt="🆚" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> might think <a href="https://twitter.com/s_alderoty?ref_src=twsrc%5Etfw">@s_alderoty</a> is being way too brash here. That’s why those familiar w/the case must explain that when the GC of Ripple states the SEC is once again being “hypocritical”, he’s simply quoting the federal presiding over the case. <a href="https://t.co/7o1jFOLzSU">https://t.co/7o1jFOLzSU</a></p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1700302912071569750?ref_src=twsrc%5Etfw">September 9, 2023</a>
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<p>Also Read – <a href="https://coinpedia.org/news/xrp-lawsuit-update-secs-reply-memo-in-ripple-case-laughable-claims-or-legal-strategy/">SEC’s Reply Memo in Ripple Case: A Laughable Strategy or a Clever One?</a></p> 
<h2 id="the-regulatory-tightrope-whats-at-stake" data-name="the-regulatory-tightrope-whats-at-stake" class="wp-block-heading"><strong>The Regulatory Tightrope: What’s at Stake?</strong></h2> 
<p>The SEC’s confusing approaches have not just confused the crypto industry, but they have also raised eyebrows among lawmakers and policy experts who question the regulatory body’s apparent indecisiveness.</p> 
<p>Chris Larsen, Ripple’s executive chairman, is hopeful that the SEC’s policy of “regulation by enforcement” will eventually collapse under its own weight, given the mounting critique from various quarters, including the judiciary.</p> 
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   <p lang="en" dir="ltr">I sincerely hope we’re seeing the beginning of the end of the SEC’s policy of regulation by enforcement. The Courts are rejecting it, and now it’s time for Congress to take the lead on crypto policy.<br><br>Thanks <a href="https://twitter.com/EdLudlow?ref_src=twsrc%5Etfw">@EdLudlow</a> <a href="https://twitter.com/technology?ref_src=twsrc%5Etfw">@technology</a> for the chat! <a href="https://t.co/3gZOR4lq5J">https://t.co/3gZOR4lq5J</a></p>— Chris Larsen (@chrislarsensf) <a href="https://twitter.com/chrislarsensf/status/1699545784063303873?ref_src=twsrc%5Etfw">September 6, 2023</a>
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<h2 id="the-crypto-community-is-fuming" data-name="the-crypto-community-is-fuming" class="wp-block-heading"><strong>The Crypto Community is Fuming</strong></h2> 
<p>Australian lawyer Bill Morgan was quick to critique the SEC’s portrayal of Judge Torres’s ruling, declaring, “<a href="https://twitter.com/Belisarius2020/status/1700387190432501876">The SEC is in trouble in this </a>motion.” </p> 
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   <p lang="en" dir="ltr">Ok some of the SEC’s reply is persuasive, but I don’t recall Judge Torres legally concluding ‘there can be no investment contract for offers and sales through crypto asset trading platforms without direct contact between the issuer and the investor’ /1 <a href="https://t.co/bmRkEXqHgJ">https://t.co/bmRkEXqHgJ</a> <a href="https://t.co/N6xq5RRIT1">pic.twitter.com/N6xq5RRIT1</a></p>— bill morgan (@Belisarius2020) <a href="https://twitter.com/Belisarius2020/status/1700387190432501876?ref_src=twsrc%5Etfw">September 9, 2023</a>
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<p>Read more: <a href="https://coinpedia.org/news/crypto-vs-sec-will-sec-chair-gary-gensler-resign-ron-hammond-weighs-in/">Crypto vs. SEC: Will SEC Chair Gary Gensler Resign? Ron Hammond Weighs In</a></p> 
<p>Crypto commentator <a href="http://“You are Making a Mockery of the US Government”: Crypto Community Slams SEC’s Ripple Appeal">Ashley Prosper</a> opined that the SEC is <a href="https://coinpedia.org/news/ripple-vs-sec-even-the-supreme-court-cant-tame-the-sec/">making</a> a “mockery of the U.S. government and its judicial system” and even mooted the idea of sanctions against the SEC for what she perceives as an abuse of judicial resources.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> <a href="https://twitter.com/hashtag/XRPCommunity?src=hash&amp;ref_src=twsrc%5Etfw">#XRPCommunity</a> <br>Dear <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a>,<br><br>Your argument is arbitrary and capricious and you still appear to be adopting your legal positions to futher your desired goals, rather than out of a faithful allegiance to the law. You are making a mockery of the US government and its judicial… <a href="https://t.co/ULDwdfwJcR">https://t.co/ULDwdfwJcR</a></p>— Ashley PROSPER (@AshleyPROSPER1) <a href="https://twitter.com/AshleyPROSPER1/status/1700355017931137374?ref_src=twsrc%5Etfw">September 9, 2023</a>
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<p>With viewpoints fluctuating between criticism and support, one thing is crystal clear: the Ripple vs SEC case isn’t just a legal battle; it’s a crucial determinant for how the future of cryptocurrency will shape up in the United States.</p>

XRP News: Ripple CLO Calls SEC Filing a “Hypocritical Pivot”

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