As Ripple squares up for battle against the U.S. Securities and Exchange Commission (SEC), former SEC Chair Mary Jo White is coming to Ripple’s defense.
In an interview with Fortune Magazine, White, who served as the 31st SEC chair from 2013-2017, reveals that she is not convinced that the SEC’s lawsuit against Ripple, which accuses the firm of selling unregistered securities in the form of XRP, has merit.
“There’s no way to sugarcoat it. They’re dead wrong legally and factually.”
The timing of the lawsuit reads as suspicious to White, who notes that the case was filed as many senior SEC officials, including former chair Jay Clayton, were on their way out, though the allegations within the suit date back all the way to 2012.
“As a former U.S. attorney and SEC chair, you know that when it takes that long to figure out a case you probably shouldn’t be bringing it. It’s not something I would do