Ripple’s Chief Legal Officer Stuart Alderoty has strongly criticized Gurbir Grewal’s, the Director of Enforcement at the Securities and Exchange Commission (SEC), comment about the crypto industry’s compliance efforts.
At a recent SEC event, Grewal suggested that the emerging industry was utilizing various methods to evade the financial regulator’s oversight, such as relocating or registering in different jurisdictions.
The regulatory chief also addressed concerns about the SEC’s regulatory approach, denying claims of regulatory overreach and enforcing regulations beyond its mandate.
‘Misguided war on crypto’
However, Alderoty highlighted the biases in Grewal’s statement, pointing out that while the SEC chief praised the financial regulator’s enforcement actions, he overlooked instances of regulatory overstep and abuses of power from the Commission.
He said:
“Dir. Grewal says the crypto enforcement unit acts with integrity but ignores the DebtBox sanctions for ‘gr
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