Stuart Alderoty on Ripple’s Continued Fight for Clear and Fair Crypto Regulation
Stuart Alderoty, Ripple’s top legal expert, recently spoke with CNBC about the company’s commitment to advocating for “clear” and “fair” crypto regulation following its recent legal victory against the U.S. Securities and Exchange Commission (SEC). Alderoty emphasized that Ripple would continue to lead the charge in this ongoing battle.
Ripple’s Victory Against the SEC
Earlier this week, Ripple made headlines by announcing that the SEC had decided to drop its controversial appeal against the company. This decision came on the heels of the SEC dropping several high-profile cases against industry giants like Coinbase and Kraken as part of its aggressive enforcement efforts in the crypto space.
Uncertainty Surrounding Ripple’s Cross-Appeal
While the SEC has withdrawn its appeal, Ripple has not yet made a decision on its cross-appeal. CEO Brad Garlinghouse mentioned in a recent interview with Bloomberg that the company is still weighing its options and considering its next steps.
Ripple’s Call for Clarity and Relief
In response to SEC Commissioner Hester Peirce’s comments, Ripple has criticized the application of the Howey Test under the previous administration, calling it “distorted.” The company has urged the new leadership at the SEC to reject such distortions and avoid complex approaches, emphasizing the importance of clarity and adherence to statutory boundaries in regulatory enforcement.
SEC’s Crypto Task Force Roundtable
The SEC’s recently formed crypto task force held its inaugural roundtable discussion earlier this week. Former SEC official John Reed Stark praised Commissioner Caroline Crenshaw for her advocacy for investors and market integrity. Crenshaw emphasized the SEC’s commitment to holistic market protection as its guiding principle.