{"id":185686,"date":"2023-11-02T09:50:54","date_gmt":"2023-11-02T04:20:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=185686"},"modified":"2023-11-02T09:50:54","modified_gmt":"2023-11-02T04:20:54","slug":"us-sec-chairs-troubling-pattern-in-court-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/us-sec-chairs-troubling-pattern-in-court-crypto-news\/","title":{"rendered":"US SEC Chair’s Troubling Pattern In Court – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Ripple Chief Legal Officer Stuart Alderoty raised concerns around the U.S. Securities and Exchange Commission\u2019s (SEC) recent spree of losses in Court cases under the leadership of Gary Gensler. His comments come in the backdrop of yet another setback for the Commission in a fifth circuit court following the XRP lawsuit<\/a> victory in July 2023.<\/p>\n

Also Read: BTC, SOL Price Jumps Despite US Fed Chair Warning On December Rate Hike<\/strong><\/a><\/p>\n

<\/p>\n

US SEC\u2019s Rule \u201cArbitrary and Capricious\u201d<\/h2>\n

On October 31, 2023, the US Court of Appeals for the Fifth Circuit said the Commission\u2019s rule on stock buyback disclosure was arbitrary and capricious. Further, the Court gave<\/a> the agency a chance to show that it has \u201creasonably considered the relevant issues and reasonably explained the decision.\u201d This comes after the SEC\u2019s recent losses in XRP lawsuit and Grayscale filing, which could prove to be key for the crypto ecosystem\u2019s regulatory standing in the years to come.<\/p>\n

The lawsuit, filed by various business and commerce associations in the US, concerns an SEC rule that requires issuers to report daily share repurchase data once a quarter and to disclose the reason why the issuer repurchased shares of its own stock.<\/p>\n

Ripple Legal Chief: \u201cVery Troubling Pattern\u201d<\/h2>\n

<\/p>\n

Ripple\u2019s Stuart Alderoty described the development as a \u201cvery troubling pattern\u201d of the SEC flouting faithful allegiance to law under SEC Chair Gary Gensler. Responding to the SEC\u2019s latest hurdle in Court Alderoty said<\/a>,<\/p>\n

<\/p>\n

\n

\u201cAnother day and another Court finds that the SEC again acted arbitrarily and capriciously. Is anyone else concerned about this very troubling pattern of the SEC flouting any faithful allegiance to law under Mr. Gensler?\u201d<\/p>\n<\/blockquote>\n

Earlier on October 25, 2023, Judge Analisa Torres officially granted<\/a> order on the US SEC\u2019s dropping of charges against Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen in the Ripple vs U.S. SEC lawsuit. Also, there has been a development on institutional sales of XRP. Judge Torres sought a joint scheduling brief from the two parties on the matter. The July 13, 2023 Summary Judgment was a split verdict with the ruling handing a victory to Ripple on the retail sale of XRP tokens.<\/p>\n

Also Read: MicroStrategy Boosts Bitcoin Portfolio with $5.3M Purchase<\/strong><\/a><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1,200 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com\/BitcoinReddy or linkedin.com\/in\/anveshreddybtc\/ <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"<\/div>\n
Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"will_cramer_curse_strike_again_720\"\"will_cramer_curse_strike_again_720\"<\/div>\n
Will Cramer Curse Strike Again? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"<\/div>\n
Mercedes Benz To Release NFT Collection With Fingerprints DAO <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Ripple Chief Legal Officer Stuart Alderoty raised concerns around the U.S. Securities and Exchange Commission\u2019s (SEC) recent spree of losses in Court cases under the leadership of Gary Gensler. His comments come in the backdrop of yet another setback for the Commission in a fifth circuit court following the XRP lawsuit victory in July 2023. […]<\/p>\n","protected":false},"author":2,"featured_media":160876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-185686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/185686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=185686"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/185686\/revisions"}],"predecessor-version":[{"id":185688,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/185686\/revisions\/185688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/160876"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=185686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=185686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=185686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}