While the U.S. Securities and Exchange Commission confirmed a settlement with Ripple Labs Inc. late Thursday, Commissioner Caroline A. Crenshaw urged the courts, in her dissent, “to take a long hard look at the Commission’s attempt to claw back the meritorious claims it previously made, and gut its own enforcement program from the inside out.”
And in the dissent, Crenshaw wrote that she has full confidence in the arguments the SEC made to the U.S. Court of Appeals for the Second Circuit on appeal over the Ripple litigation and equal confidence in the talent of the agency’s attorneys who advanced those arguments—which motivated her dissent to the settlement.