Ripple Legal Chief Calls Out SEC Commissioner: 'Even More Rogue Than Gensler'

Ripple Legal Chief Calls Out SEC Commissioner: 'Even More Rogue Than Gensler'

Ripple's Chief Legal Officer, Stuart Alderoty, recently criticized SEC Commissioner Caroline Crenshaw, describing her as “more rogue than Gensler” following her actions that defy court rulings and hinder progress within the cryptocurrency space.

Alderoty's remarks came in response to discussions surrounding Crenshaw’s renomination. He took to social media platform X to express his dissatisfaction, drawing comparisons to SEC Chairman Gary Gensler. According to Alderoty, while Gensler adjusted his stance after a court ruled that blocking Bitcoin spot ETFs was "arbitrary and capricious," Crenshaw has remained defiant. Despite the ruling, she continued to dissent, rejecting Bitcoin ETF approvals and claiming that the court had made a mistake. Alderoty emphasized that unelected officials must adhere to the law, underscoring the dangers of disregarding judicial decisions.

The crypto community has been vocal in its opposition to Crenshaw’s regulatory approach. Leading organizations such as the Blockchain Association and the DeFi Education Fund have formally petitioned the Senate Banking Committee to reject her reappointment. The community argues that her resistance to crypto innovation has stymied the development of a transparent and progressive regulatory environment. A campaign by the Cedar Innovation Foundation has also labeled Crenshaw as “more anti-crypto than Gensler,” a sentiment echoed by many in the industry.

Crenshaw has long been at odds with the crypto sector, notably opposing Bitcoin ETFs and advocating for tighter regulations on cryptocurrency. Notable figures, including Coinbase CEO Brian Armstrong, have criticized her for impeding the growth of the crypto industry and for her failure to adequately support the approval of Bitcoin ETFs.

The Senate Banking Committee’s vote on Crenshaw’s renomination, initially scheduled for December 11, was delayed, raising questions about the SEC's future leadership and the direction of its regulatory stance. While Crenshaw’s term expired in June, she has remained active since her initial 2020 appointment, pushing for stringent corporate climate disclosures and more oversight of cryptocurrency markets.

The crypto industry now awaits the Senate’s decision, with many hoping for leadership that will embrace innovation and provide clearer guidelines for the evolving crypto landscape.