Stuart Alderoty commented on the words of Gary Gensler about the subordination of crypto markets to the jurisdiction of the SEC

Ripple Legal Counsel Stuart Alderoty commented on the words of Gary Gensler about the subordination of crypto markets to the jurisdiction of the SEC.

Ripple Legal Counsel Stuart Alderoty on twitter commented on the words of Gary Gensler about the subordination of crypto markets to the jurisdiction of the SEC. The statement itself read as follows:

We have rules in our capital markets to safeguard market integrity & protect against fraud & manipulation. If a company builds a crypto market that protects investors & meets the standard of our market regulations, people will more likely have greater confidence in that market.

Stuart Alderoty responded to this as follows:

I would rethink the «logic» of saying that crypto markets have to succumb to SEC jurisdiction, b/c that’s like saying drivers of electric cars don’t need seatbelts. It’s actually more like punishing electric car drivers b/c they don’t use SEC-owned and controlled gas stations.