Ripple legal director: SEC action 'deviates from commitment to upholding the law'

On November 2nd, Stuart Alderoty, Ripple's Chief Legal Officer, expressed reservations about the series of legal failures that the SEC suffered during Gary Gensler's tenure. Stuart stated that "another court found the SEC to be arbitrary and capricious once again" and expressed concern about the SEC's repeated arbitrary and capricious actions in court cases. Previously, in July 2023, the SEC lost a lawsuit against Ripple over XRP in the Fifth Circuit Court of Appeals.