Ripple CLO Stuart Alderoty States SEC Chair Gary Gensler ‘Misstates the Law’ on Tokens

Stuart Alderoty, CLO of Ripple, a cryptocurrency and payments services company, railed against the statements of U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler given in a recent congressional hearing. Alderoty criticized the stance taken by Gensler, stating that he “misstates the law” by declaring that tokens, standing alone, are investment contracts.