Ripple Legal Chief Calls out SEC Commissioner: ‘Even More Rogue Than Gensler’
Ripple’s legal chief criticized SEC Commissioner Caroline Crenshaw as “more rogue than Gensler,” accusing her of defying court rulings.
SEC Commissioner Caroline Crenshaw Faces Growing Opposition From Crypto Industry
Ripple’s chief legal officer, Stuart Alderoty, took to social media platform X on Wednesday to comment on the renomination of U.S. Securities and Exchange Commission (SEC) Commissioner Caroline Crenshaw. His remarks came in response to an article discussing her potential reappointment. Alderoty expressed sharp criticism, stating:
Commissioner Crenshaw is, in some ways, even more rogue than Gensler.
He explained that SEC Chair Gary Gensler adjusted his stance following a court ruling on the agency’s rejection of spot bitcoin exchange-traded funds (ETFs). “At least Gensler backed down after a court said blocking BTC spot ETFs was ‘arbitrary and capricious.’ Crenshaw, however, continued to vote ‘no,’ insisting that the court got it wrong in her dissent. Unelected bureaucrats are not above the law,” Alderoty detailed.
The renomination of Crenshaw has faced significant pushback from the cryptocurrency sector, which has long challenged her regulatory approach. Organizations such as the Blockchain Association and the Defi Education Fund have formally petitioned the Senate Banking Committee to reject her reappointment. These groups argue that her actions obstruct the development of transparent crypto policies. The Cedar Innovation Foundation has also launched an ad campaign labeling Crenshaw “more anti-crypto than Gensler,” highlighting her dissent against approving spot bitcoin ETFs.
Key industry leaders have joined the opposition, emphasizing concerns over Crenshaw’s record. Coinbase CEO Brian Armstrong has been especially vocal, accusing her of failing in her role and opposing bitcoin ETFs, a position he argues undermines the crypto industry’s progress. This wave of criticism reflects the sector’s broader demand for a regulatory framework that fosters innovation and establishes clearer guidelines.
A scheduled vote on Crenshaw’s renomination by the Senate Banking Committee, initially set for Dec. 11, has been delayed. This postponement introduces the possibility of a Republican-led SEC in the early months of the upcoming Trump administration. Crenshaw’s term officially expired in June, though she has remained an active voice since her appointment in 2020. Her tenure has been marked by advocacy for rigorous corporate climate disclosures and heightened cryptocurrency oversight. The delay leaves the SEC’s leadership and future regulatory direction in question.
