In a tweet yesterday, Ripple general counsel Stuart Alderoty responded to claims that the US Securities and Exchange Commission sued Ripple for defying its authority.

According to the lawyer, if accurate, it makes the SEC’s actions even more worrying. Alderoty asserts that it would mean the regulator is acting out of wounded pride instead of allegiance to the law.

“Even if true, this only shows that the SEC’s unelected bureaucrats believe they have unchecked power to issue indiscriminate closed door edicts under pain of punishment to those who don’t blindly obey,” Alderoty wrote. “We have crossed from regulation by enforcement to hubris most foul.”

(By Ammara)