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Ripple's chief legal officer advises SEC on how new leadership can reform crypto rules
2024-11-24 04:51
Odaily News Ripple Chief Legal Officer Stuart Alderoty shared his advice to the incoming U.S. SEC leadership in a post on X this week. Alderoty expressed confidence in the transition team's ability to effectively address cryptocurrency regulatory issues and urged a number of actions. "I believe the transition team will make the right decision taking into account these basic conditions of cryptocurrency," he wrote. Alderoty suggested an immediate end to cryptocurrency lawsuits that are not related to fraud and promoting cooperation by ensuring that SEC Commissioners Mark Uyeda and Hester Peirce continue to serve. He emphasized the need to work with Congress and financial regulators to develop clear and direct cryptocurrency rules rather than defaulting to the SEC's jurisdiction. In addition, he called for the abandonment of Hinman's 2018 speech and the 2019 Digital Asset Analysis Framework, increased transparency in the Freedom of Information Act (FOIA) process, and taking steps to restore public trust and accountability by addressing past SEC issues through the Office of the Inspector General.