Crypto World No Longer Fears SEC, Ripple Lawyer Says

Stuart Alderoty, the chief lawyer at Ripple, asserts that the cryptocurrency industry is beginning to overcome its fears towards the Securities and Exchange Commission (SEC). Alderoty’s statement, which was published in The Wall Street Journal, comes at a time when the industry is struggling with ongoing legal challenges and regulatory uncertainties.

2024 marks already the seventh year of the SEC’s ongoing efforts to regulate the cryptocurrency market, a campaign often likened to a relentless battle in regulatory realms. Key market players, including Coinbase, Binance, and Kraken, have faced the SEC’s stringent enforcement actions.

Other legal professionals also note the prolonged nature of these conflicts, particularly in the fast-evolving and novel domain of cryptocurrencies. The SEC’s assertive stance has laid the groundwork for critical legal disputes poised to influence the future direction of cryptocurrency regulations.

Alderoty offers insights into the crypto landscape for 2024, anticipating the ongoing struggle between Ripple and the SEC. He cautions against expecting widespread regulatory easing in the near future.

The Ripple lawyer also highlights the judiciary’s potential role in curbing the SEC’s influence, suggesting this could lead to a showdown at the Supreme Court. Additionally, he raises concerns about a possible stalemate in Congress regarding cryptocurrency regulation, a situation that could leave American companies in a precarious position.

A week ago, Alderoty came out on social media platform X where he said that before suing Ripple, the SEC had proposed settlement.