The chief legal officer at Ripple Labs is criticizing the U.S. Securities and Exchange Commission (SEC) for boasting about its record fines collected. According to Ripple CLO Stuart Alderoty, the SEC's high enforcement actions and financial remedies are not a measure of success but an indication of oversight gone wrong. Alderoty was responding to the SEC's announcement of filing 583 enforcement actions and obtaining financial remedies amounting to $8.2 billion, the highest in SEC history. SEC Chair Gary Gensler, who announced his departure last week, defended the agency's enforcement actions, stating that they help promote the integrity of capital markets.



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