Stuart Alderoty, chief authorized officer at enterprise blockchain firm Ripple, lately took a not-so-veiled dig at former SEC Common Counsel Bob Stebbins.
This comes after Stebbins lately emerged as one of many prime picks to switch SEC Chair Gary Gensler.
In his submit, Alderoty pointed to the truth that Stebbins was concerned in crafting the now-infamous Ethereum speech, which acknowledged the second-largest cryptocurrency as a non-security again in 2018.
“Clayton 2.0”
Stebbins has confronted sturdy opposition from cryptocurrency advocates as a consequence of his affiliation with former SEC Chair Jay Clayton.
Clayton, in fact, famously introduced the lawsuit towards Ripple throughout his final month on the helm of the company.
As famous by former SEC official John Reed Stark, Stebbins personally accredited about 80 cryptocurrency-related enforcement actions.
Associated
Stebbins’s candidacy is reportedly being actively pushed by Clayton, who was lately picked to function Manhattan’s prime federal prosecutor.
Cryptocurrency lawyer John Deaton claims that Stebbins could be basically Clayton 2.0 on the subject of crypto regulation.
“Selecting Bob Stebbins, particularly with Calyton heading the SDNY, is actually adopting a Clayton 2.0 method relating to Crypto. We’ve been there and performed that,” he stated in his social media submit.
The highest contenders
Other than Stebbins, there are different prime contenders. Daniel Gallagher, Robinhood’s prime lawyer, Brad Bondi of Paul Hastings, and Patomak World Companions CEO Paul Atkins are additionally among the many prime contenders. To this point, it looks as if the race to switch Gensler is way from over, and the cryptocurrency trade will possible flex its lobbying muscle mass to attempt to cease Stebbins.