Ripple Chief Legal Officer: Hopes the US Will Use XRP Ruling to Create Clear Regulatory Framework

Odaily News - Stuart Alderoty, Chief Legal Officer of Ripple, has stated that he believes the most important aspect of the SEC v. Ripple case ruling is the court's clarification that XRP itself is not a security. As a result, Alderoty points out that the ruling on XRP is now a legal issue that does not require a trial.



Furthermore, other investigative findings that are not subject to trial include the following: exchanges' sales are not securities, executives' sales are not securities, and other XRP allocated to developers, charitable organizations, and employees are also not securities. The court's ruling can now also be used by the SEC to target others.



While the court ruling on XRP marks an important milestone for the entire cryptocurrency industry, Alderoty notes that he hopes Congress will use this ruling to create a clear regulatory framework.



He stated, "According to the court's order, there will be further court proceedings, and we are evaluating the next steps. Although intermediate appeals are allowed, they are rarely granted in practice." Therefore, if the SEC decides to appeal the court's ruling, it may take several months or even years. (Cointelegraph)