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“Regulation by Enforcement” by the SEC Caused BlockFi’s Collapse, Asserts Ripple’s General Counsel

Stuart Alderoty, Ripple’s General counsel has slammed the U.S. Securities and Exchange Commission “SEC” for its alleged role in bringing BlockFi to its knees.

In a thread of tweets this week, the lawyer accused the regulator’s use of unorthodox means in trying to police the crypto industry, leading to the collapse of the lending giant.

“Another SEC “regulation by enforcement” success story. Months after the $100M BlockFi/SEC deal BlockFi in bankruptcy,” said Alderoty.

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