Gensler Will Launch Final Attack on Ripple Before Resigning

In its final push against Ripple under the current administration, the U.S. Securities and Exchange Commission is preparing to file an opening summary for the appeal lawsuit later this week. Stuart Alderoty, Ripple’s General Counsel, stated that his team had requested the regulatory agency to agree to postpone the submission of the summary. However, the SEC has denied the postponement. However, according to Alderoty, Ripple still has confidence in its appeal position. He further stated that the company “wants” to work with upcoming cryptocurrency-friendly governments. Last month, Paul Atkins, a former SEC commissioner known for his libertarian views, was selected to lead the agency. Ripple’s CEO, Brad Garlinghouse, also stated that the SEC’s refusal to postpone the filing is “very correct” with Gensler. The SEC filed an appeal in the ongoing Ripple lawsuit in October. Subsequently, the company responded with its own cross-appeal. According to U.Today, Gensler recently defended the SEC’s crackdown on cryptocurrencies in one of his final interviews as head of the agency, arguing that the industry is full of bad actors. He also stated that the agency’s enforcement actions are in line with the government’s. Former SEC Chairman Jay Clayton is famous for suing Ripple in the final days of his tenure. Alderoty previously urged the incoming SEC chief to end all non-fraud related lawsuits against the cryptocurrency industry. However, it remains unknown whether Atkins will give this industry a chance or not.