Ripple’s legal counsel Stuart Alderoty has slammed cryptocurrency media outlet Coindesk for its recent op-ed about the Ripple lawsuit. Coindesk columnist Preston Byrne said in the article that he expects Ripple to lose its case against the SEC “sooner or later.” 

In a strongly worded letter sent Tuesday, Representative Ritchie Torres (D-NY) called upon the Government Accountability Office (GAO)  to conduct an independent review of the SEC’s actions—or lack thereof—in the months leading up to FTX’s implosion last month.

Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), said that the SEC has the basic disclosure and governance requirements in place to hold digital assets firms accountable. The SEC chief also didn’t directly address questions about whether his agency would push out tailored crypto rules next year, but he insisted that it doesn’t need any.

<a href="https://finbold.com/cryptocurrency/xrp/">XRP</a> has recorded phases of high price volatility in recent weeks as the token’s community monitors the progress of the ongoing cases between the Securities Exchange Commission (<a href="https://finbold.com/topic/sec/">SEC</a>) and <a href="https://finbold.com/topic/ripple/">Ripple</a>.&nbsp;

Anti-crypto Senator Elizabeth Warren has been working hard on a cryptocurrency bill that puts the U.S. Securities and Exchange Commission in charge of the asset class.

An official from the authoritative body stated that it was looking into “possible misconduct concerning digital assets,” but they have not disclosed the further details.

Senator Elizabeth Warren is <a href="https://www.semafor.com/article/12/06/2022/warren-crypto-plan">working</a> on a sweeping cryptocurrency bill that would give most cryptocurrency regulatory authority to the Securities and Exchange Commission, according to sources close to her.

Attorney John Deaton, the founder of Crypto Law and staunch Ripple supporter, has pointed out what he opined to be the biggest threat to Ripple securing a <a href="https://zycrypto.com/xrp-lawsuit-ripple-notches-another-legal-victory-as-judge-quashes-secs-latest-bid-to-strike-fair-notice-defense/">complete victory</a> over the U.S Securities and Exchange Commission (SEC) even as the case draws to an end.

Ripple’s General Counsel Stuart Alderoty has taken to Twitter to express gratitude to his colleagues at the leading blockchain company.&nbsp;

Uncertainties from the lawsuit between Ripple and the SEC could contribute to XRP’s volatility in the near term.