Crypto Community Attacks SEC and Chair Gensler After Speech on Regulation
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SEC Chair Gary Gensler gave a speech reiterating the SEC's mandate, triggering backlash from the crypto community.
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Ripple's lawyer Stuart Alderoty criticized Gensler, saying the SEC has "prejudged crypto" and sued without investigation.
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Alderoty accused the SEC of "shady behavior", losing in court, and becoming irrelevant internationally.
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ShapeShift CEO Erik Voorhees said Gensler has prosecuted his "honest business" twice.
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A community member accused the SEC of facilitating the "legitimization of a corrupt system", arguing it has strayed from its original vision.