The SEC Should Be Process-Oriented, Not Arbitrary: Crypto Lawyer

• Murphy said the SEC should be process-oriented.
• James Murphy thinks the SEC was wrong with its approach to crypto regulation.
• He thinks the upcoming election can impact the final decision between XRP and SEC.

According to James Murphy, founder of MetaLawMan, the U.S. Security and Exchange Commission (SEC), under Gary Gensler, was wrong with its recent approach to cryptocurrency regulation. In a recent Thinking Crypto podcast, Murphy told the host, Tony Edward, that the SEC was arbitrary in its approach to regulatory enforcement.

Murphy noted that the SEC should be process-oriented, where new laws take time to get input from the industry. He explained that such laws, when put out, are expected to attract comments that should be considered when developing the final rules.

The experienced lawyer cited instances where Gensler went around the process and initiated enforcement when the SEC did not have explicit authority. He considered such an unusual move, noting it as the wrong approach. Hence, it has led to situations where the Court reverses the SEC Chairman’s decisions, insisting he follows the law.

Commenting on the ongoing case between the SEC and …

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