SEC’s Approach In The Coinbase Case Is Wrong: Ripple’s CLO Speaks Up
Ripple's CLO criticizes the SEC's stance in the Coinbase case; Judge Failla's tough questions hint at legal battle's complexity.
Following the SEC v. Coinbase hearing Ripple's Chief Legal Officer, Stuart Alderoty, criticized the SEC on social media. He claims the SEC's approach in the case against Coinbase, which is about selling unregistered securities, is wrong. Alderoty points out that their focus on investment effort is not enough; it needs to involve a common enterprise.
During the recent hearing, Judge Failla asked some tough questions about tokens like Solana and Cardano. The SEC's lawyer said these tokens are just computer codes. The judge's reaction suggests she might not fully agree with the SEC.
The next step in this legal fight involves Judge Failla questioning Coinbase. If she denies their motion, the case will move to the discovery phase. After that, both the SEC and Coinbase can ask for a summary judgment.
