Crypto Enthusiasts Respond to SEC Chairman’s Debatable Remarks
The crypto world has been set ablaze following a recent speech by SEC Chairman, Gary Gensler, at the 2023 Securities Enforcement Forum. His assertion that the SEC should act as ‘allies of honest businesses and persecutors of deceit’ has sparked a wave of reactions from numerous crypto community members. Ripple’s top legal executive, Stuart Alderoty, accused Gensler of bias against cryptocurrencies and claimed that the SEC has wrongly initiated lawsuits against specific crypto organizations without thorough investigation. Alderoty further disclosed that although Ripple was sued, it was ‘never accused of dishonesty.’ He charged the SEC with ‘dubious actions’ and of becoming globally ‘insignificant.’ Other crypto enthusiasts, including ShapeShift’s founder and CEO, Erik Voorhees, also expressed their disapproval. A community member argued that the SEC was enabling the ‘validation of a corrupt system,’ straying from the original vision Gensler portrayed in his speech.
