As Gary Gensler reiterated the mandate of the United States Securities and Exchange Commission in a speech, Ripple’s lawyer and various members of the crypto community responded, criticizing the SEC chairman and arguing that the commissioner’s remarks contradicted his actions.
On November 16, SEC Chairman Gary Gensler shared a video of him giving a speech at the Securities Enforcement Forum 2023. In his speech, he highlighted the words of the first SEC Chairman, Joseph P. Kennedy, according to which the government agency should be “partner of honest businesses and prosecutor of dishonesty”.
Like Joseph P. Kennedy, the first @SECGov The president once said: “We are not prosecutors of honest dealings, nor defenders of dishonesty. We are partners of honest business and prosecutors of dishonesty. We will not prejudge, but we will investigate. »
Check out my recent remarks: pic.twitter.com/QM2zqj8PQs
–Gary Gensler (@GaryGensler) November 16, 2023
The post on According to Alderoty, the SEC chairman’s recent remarks should be fact-checked and that Gensler has “prejudiced crypto and filed suit against others without investigation.”
The SEC is losing in court; being criticized by judges for his shady behavior; being reprimanded by the government’s internal auditor; hiding information about meetings with a criminal; becomes insignificant on the international scene. Gensler – admitting no wrongdoing – became the insulating Colonel Jessep. pic.twitter.com/vqjPPcifr8
–Stuart Alderoty (@s_alderoty) November 16, 2023
Alderoty also pointed out that Ripple had been sued but had “never been accused of dishonesty.” The Ripple executive also made some accusations against the SEC and said it was being criticized for its “shady behavior” and was becoming “irrelevant” internationally.
Related: Gary Gensler Links Crypto to Cash in Viral 2018 Video – Crypto Twitter Reacts
Besides Alderoty, various members of the crypto community also responded to the video shared by Gensler. Erik Voorhees, founder and CEO of trading platform ShapeShift, responded to the tweet by claiming that Gensler had for follow-up his “honest business” twice.
Meanwhile, a community member also responded to Gensler’s remarks, saying what he cited “was the vision”; However, the Twitter user argued that he had evolved for worse, accusing the SEC of facilitating the “legitimation of a corrupt system.”
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