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The legal skirmish between Ripple and the SEC has taken a fiery turn, with&nbsp;Ripple’s&nbsp;Chief Legal Officer Stuart Alderoty sharply criticizing SEC Chair Gary Gensler. Meanwhile,&nbsp;Alderoty’s recent aim against the SEC chair underscore the escalating tensions as the case progresses, highlighting the high stakes involved for both&nbsp;Ripple and the broader cryptocurrency industry. In addition, it also reflects how crypto has emerged as an&nbsp;important&nbsp;aspect of the U.S. presidential election. 
<h2 id="span-data-preserver-spaces-true-ripple-clo-takes-aim-at-sec-chair-gensler-span">Ripple CLO Takes Aim at SEC Chair Gensler</h2> 
Stuart Alderoty,&nbsp;Ripple’s&nbsp;CLO, recently&nbsp;expressed strong criticism towards&nbsp;SEC Chair <a href="https://coingape.com/pro-xrp-lawyer-slams-sec-chair-genslers-crypto-understanding-heres-all/" target="_blank" rel="noopener">Gary Gensler</a> on X.&nbsp;In his post,&nbsp;he accused Gensler of overstepping his authority and becoming a political liability.&nbsp;Precisely, he stated: 
<blockquote>
 “Gensler overplayed his hand. He thought crypto was an easy target.&nbsp;He&nbsp;relished being the guy that everyone loved to hate. He thought he was above Congressional oversight.&nbsp;That’s&nbsp;all gone.&nbsp;He’s&nbsp;now a struggling political liability,”&nbsp;
</blockquote> 
Notably, the comment reflects the growing frustrations within the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> community. Meanwhile, this comment was in response&nbsp;to another post highlighting the unusual political spotlight on the SEC.&nbsp; 
The user pointed out that&nbsp;it’s&nbsp;unprecedented for a presidential candidate to mention the SEC Chair by name or for a sitting President to threaten to veto <a href="https://coingape.com/biden-admin-opposes-bill-challenging-secs-sab-121/" target="_blank" rel="noopener">SEC-related legislation</a>.&nbsp;This political dimension adds another layer of complexity to&nbsp;the ongoing legal battle. 
Also Read: <a href="https://coingape.com/bitcoin-news-whales-scoop-636m-in-single-day-whats-next-for-btc-price/" target="_blank" rel="noopener">Bitcoin Whales Scoop $636M In Single Day, What’s Next For BTC Price?</a> 
<h2 id="span-data-preserver-spaces-true-uniswap-battle-sparks-discussions-span">Uniswap Battle Sparks Discussions</h2> 
The Ripple&nbsp;case’s&nbsp;influence extends beyond its immediate parties. For context, <a href="https://coingape.com/uniswap-labs-replies-to-sec-wells-notice/" target="_blank" rel="noopener">Uniswap</a> has referenced the Ripple case in its legal fight with the SEC, particularly concerning the nature of airdrops.&nbsp; 
Meanwhile, Pro-XRP lawyer Bill Morgan noted,&nbsp;“Uniswap felt the need to argue that airdrops are not investment contracts. The SEC must have referred to airdrops in the Wells notice.”&nbsp;Morgan highlighted the&nbsp;SEC’s&nbsp;inconsistent positions, stating,&nbsp;“It makes no sense that some tokens given away are inherently not securities and other tokens sold are inherently securities. It must be the circumstances of the sale.” 
This&nbsp;shared legal struggle underscores the broader implications of the Ripple case. In other words, the&nbsp;SEC’s&nbsp;approach to regulating digital assets is under intense scrutiny, with&nbsp;major&nbsp;players in the crypto space closely watching the outcomes. 
Meanwhile, the legal battle intensified with the&nbsp;SEC’s&nbsp;recent filing against&nbsp;Ripple’s&nbsp;motion to seal and redact certain information. On May 21, the SEC&nbsp;argued&nbsp;that&nbsp;Ripple’s&nbsp;request to conceal financial and securities sales information from the public was unlawful.&nbsp; 
In the latest filing, the regulator claimed that the details <a href="https://coingape.com/ripple-sec-lawsuit-sec-files-opposition-to-xrp-heres-everything/" target="_blank" rel="noopener">Ripple</a> seeks to redact, such as financial figures, sales data, and discounts to institutional investors, are crucial for the&nbsp;court’s&nbsp;decision-making process. Besides, the SEC emphasized that this information is vital for understanding the penalties and remedies in the case.&nbsp; 
They argued that Ripple failed to demonstrate how&nbsp;making this information public&nbsp;would cause substantial injury. In addition, the SEC&nbsp;noted&nbsp;that some of the information Ripple wants to conceal is already publicly available or outdated. 
Also Read: <a href="https://coingape.com/hong-kong-ether-etf-see-highest-daily-inflow-since-launch/" target="_blank" rel="noopener">Hong Kong Ether ETFs See Highest Daily Inflow Since Launch</a> 
The post <a href="https://coingape.com/ripple-xrp-case-update-ripple-clo-lambast-gary-gensler-sec-battle-intensifies/">Ripple XRP Case Update: Ripple Exec Slams Gary Gensler Amid Ongoing SEC Battle</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Ripple XRP Case Update: Ripple Exec Slams Gary Gensler Amid Ongoing SEC Battle

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