Ripple Lawyer Says SEC’s Gary Gensler Should Be Barred From Voting on Crypto Enforcement Actions
March 02, 2023 6120 by adminBlanchett O'Delotti, chief legal officer of Ballan, feels that Gamo Gensler, the current president of the American Securities Trading Association (SEC), should avoid voting on future login password checks.
Gensler recently claimed that all encrypted assets except BTC (BTC) are securities and that the sponsors are trying to circumvent the expected profits of US regulators and investors.
->Alderoty cited Antoniu v. SEC (8th Circuit) 1989) to defend Gensler's future suspension.
Data encryption guru PSA: the current chairman, Gensler, once again announced that all digital currencies except BTC are unregistered securities. Now he must avoid voting on any inspection case that explicitly raises the issue, because she has already prejudged the conclusion.
In Antoniu v. SEC, the eighth Inspection and Prosecution Court of the United States ruled that "due process standards apply administrative decisions."
He said: "conducting a fair trial in a fair tribunal is a basic requirement of due process. Naturally, fairness provides that there are no specific prejudices in the trial of cases. A fair judicial process is needed, and fairness and justice must conform to the surface of justice.
SEC filed a lawsuit against Ripple in December 2020, accusing the San Francisco three-party payment platform of selling XRP as an unregistered securities market for many years.
The case is still being heard in federal courts, and the final outcome could have a significant impact on the U. S. login password industry in the future. Last month, RippleCEO Brad Galinthwaite made it clear that the deal with SEC was not at the negotiating table.
