Stewart Aldrotti, chief legal official at Blockchain Ripple, It was identified Usually SEC provides “follow -up” actions after the Ministry of Justice as a “major” waste source in the agency.
“These cases add little value, often lead to unparalleled penalties, and relate to the main headlines more than protecting investors,” he said.
It is somewhat common to civil complaints of SEC the parallel criminal charges offered by the Ministry of Justice.
Aldeoty itself mentioned the FTX disaster as an example on SEC after the trials of the Ministry of Justice through its own enforcement procedures.
Related
The Securities and Stock Exchange Commission provided charges of fraud on civil stocks against the former FTX Fund, Sam Bankman, in late 2022.
In September, the former auditor of the failed stock exchange agreed to pay a fine of $ 1.95 million to settle the SEC duties after accusing it of neglect.
Moreover, SEC foot The fees in the Coinbase Insider case along with the return of the Ministry of Justice in 2022.
Aldeoty saw that SEC should focus on its “basic mission”.
“SEC should focus on its basic mission rather than repetition efforts,” said Ripple.
This opinion has been supported by Paul Ghorn, the chief legal official of Coinbase. “Yes. Especially when the Ministry of Justice could have followed the interests of securities, but after the investigation it chose only I chose to charge fraud on wires,” Grewal wrote on X.
SEC encryption enforcement has ended
Last year, Alderoty, one of the most critical SEC audio critics, urged the agency to get rid of all uniform cryptocurrencies.
like It was mentioned by u.todayJohn Reed Stark, the former official official, claimed that the SEC encoding application has been effectively done.
The agency’s appeal against Ripple may also be dropped.
