{"id":466,"date":"2023-09-29T01:35:00","date_gmt":"2023-09-29T01:35:00","guid":{"rendered":"http:\/\/www.seafan.me\/?p=466"},"modified":"2023-10-14T23:09:11","modified_gmt":"2023-10-14T23:09:11","slug":"ripple-lawyer-exposes-genslers-crypto-oversight-in-congressional-face-off","status":"publish","type":"post","link":"http:\/\/www.seafan.me\/index.php\/2023\/09\/29\/ripple-lawyer-exposes-genslers-crypto-oversight-in-congressional-face-off\/","title":{"rendered":"Ripple Lawyer Exposes Gensler\u2019s Crypto Oversight in Congressional Face-Off"},"content":{"rendered":"<p><img loading=\"lazy\" width=\"1024\" height=\"536\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"webfeedsFeaturedVisual wp-post-image lazyload\" alt=\"Ripple Rises from SEC Clash\" decoding=\"async\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" sizes=\"(max-width: 1024px) 100vw, 1024px\" data-src=\"http:\/\/www.seafan.me\/wp-content\/uploads\/2023\/09\/Ripple-Rises-from-SEC-Clash-1024x536-1.webp\" data-srcset=\"http:\/\/www.seafan.me\/wp-content\/uploads\/2023\/09\/Ripple-Rises-from-SEC-Clash-1024x536-1.webp 1024w, https:\/\/image.coinpedia.org\/wp-content\/uploads\/2023\/07\/22171157\/Ripple-Rises-from-SEC-Clash-300x157.webp 300w, https:\/\/image.coinpedia.org\/wp-content\/uploads\/2023\/07\/22171157\/Ripple-Rises-from-SEC-Clash-768x402.webp 768w, https:\/\/image.coinpedia.org\/wp-content\/uploads\/2023\/07\/22171157\/Ripple-Rises-from-SEC-Clash-150x79.webp 150w, https:\/\/image.coinpedia.org\/wp-content\/uploads\/2023\/07\/22171157\/Ripple-Rises-from-SEC-Clash.webp 1200w\"><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/coinpedia.org\/ripple\/ripple-lawyer-exposes-genslers-crypto-oversight-in-congressional-face-off\/\">Ripple Lawyer Exposes Gensler\u2019s Crypto Oversight in Congressional Face-Off<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/coinpedia.org\">Coinpedia Fintech News<\/a><\/p>\n<p>A top Ripple lawyer took a public swipe at SEC Chairman Gary Gensler after the regulator faced pressure in Congressional testimony over his strict crypto oversight approach. Ripple Chief Legal Officer Stuart Alderoty said Gensler \u201cdidn\u2019t know what hit him\u201d when grilled on defining crypto assets as securities at a Tuesday House hearing.<\/p>\n<figure class=\"wp-block-embed is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A must watch. For hours Mr. Gensler smugly evaded question after question (even laughing about how rich he is) until Rep. Torres took him out with a command of the law and a touch of South Bronx street sense. Gensler didn\u2019t know what hit him until it was too late. <a href=\"https:\/\/t.co\/RzAK4inkHE\">https:\/\/t.co\/RzAK4inkHE<\/a><\/p>\n<p>\u2014 Stuart Alderoty (@s_alderoty) <a href=\"https:\/\/twitter.com\/s_alderoty\/status\/1707360121204904231?ref_src=twsrc%5Etfw\">September 28, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<h2 class=\"wp-block-heading\" id=\"h-alderoty-highlighted-tough-questions-thrown-at-gensler\">Alderoty highlighted tough questions thrown at Gensler<\/h2>\n<p>Alderoty spotlighted tough questioning from Representative Torres, who challenged Gensler on using the broad \u201cinvestment contract\u201d test to categorize cryptocurrencies. Torres pushed Gensler to explain if buying a Pokemon card requires an underlying contract, visibly flustering the SEC chief, unaccustomed to skepticism.<\/p>\n<p>In a tweet, Alderoty cheered Torres for dexterously backing Gensler into a corner in the exchange caught on video. The Ripple lawyer said the SEC chairman was blindsided by the intensity of doubts raised over his security designation rationale.<\/p>\n<p>The spat spilled into public view when Alderoty predicted Gensler would use the Congressional platform to push disputed classifications. A day before the hearing, he claimed Gensler would falsely insist a broad \u201ccrypto asset securities market\u201d exists to justify XRP intervention.<\/p>\n<p>Gensler then followed the script, reiterating that most crypto tokens meet the investment contract or \u201cHowey Test\u201d criteria. Alderoty seized the chance to blast the SEC chief\u2019s stance when Torres challenged assumptions underlying his security definitions.<\/p>\n<p>The confrontation captured growing unease with Gensler\u2019s posture, even among lawmakers supportive of crypto oversight. Torres exposed hesitancy and contradictions around the sweeping categorization of digital assets as securities by default.<\/p>\n<p>Alderoty believes the revealing exchange highlights the overextension of SEC authority via ambiguous classifications. In his view, Gensler failed to justify reflexively treating crypto assets like securities rather than commodities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The post Ripple Lawyer Exposes Gensler\u2019s Crypto Oversight in Congressional Face-Off appeared first on Coinpedia Fintech News A top Ripple lawyer took a public swipe at SEC Chairman Gary Gensler after the regulator faced pressure in Congressional testimony over his strict crypto oversight approach. Ripple Chief Legal Officer Stuart Alderoty said Gensler \u201cdidn\u2019t know what [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/posts\/466"}],"collection":[{"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/comments?post=466"}],"version-history":[{"count":2,"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/posts\/466\/revisions"}],"predecessor-version":[{"id":469,"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/posts\/466\/revisions\/469"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/media\/468"}],"wp:attachment":[{"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/media?parent=466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/categories?post=466"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.seafan.me\/index.php\/wp-json\/wp\/v2\/tags?post=466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}