Ripple exec calls out SEC’s “gross abuse of power”- What next for XRP?

SEC’s inconsistent crypto guidance was highlighted, which confuses market participants.and the US Securities and Exchange Commission , the cryptocurrency market faces challenges regarding the classification of crypto assets in financial markets.

“On the substance, he cites one portion of the Ripple ruling but ignores that the SEC lost or gave up on most of its claims in the case, including the Court’s rejection of the SEC’s assertion that XRP was in and of itself a security.”Alderoty challenged SEC’s integrity, citing past legal cases, including the Debt Box lawsuit in which Judge Robert Shelby denied SEC’s motion to dismiss charges.

Additionally, the CLO criticized Grewal for cherry-picking parts of the Ripple ruling where the SEC prevailed, while ignoring the court’s decision favoring XRP.“The SEC typically collects 11% of unregistered sales claims, but in Ripple case they want 300%. This is what abuse of power looks like.”he specific criticisms directed at the SEC reflect growing frustration within the US cryptocurrency community.

Source: Digital Coin News (digitalcoinnews.net)

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