Ripple CLO Slams US Authority Over Crypto Regulation Approach
The legal battle between Ripple and the U.S. SEC has been one of the hottest talks in crypto town. Now, amid the intensifying battle, Ripple Chief Legal Officer (CLO) Stuart Alderoty has shown dismay towards the U.S. authority with their approach towards the crypto regulation. Notably, he has also previously slammed the U.S. SEC and its Chair Gary Gensler for their regulatory overreach towards the digital assets sector.
Ripple CLO Condemns US Regulatory Approach
During a recent panel discussion at the Point Zero Forum in Zurich, Switzerland, Ripple CLO Stuart Alderoty expressed his discontent with the U.S. regulatory framework for digital assets. The Ripple CLO argued that effective crypto regulation should lead to predictable outcomes when applied consistently.
However, he pointed out that the U.S. falls short in this regard compared to its global counterparts. In a post on the X platform, Alderoty shared his insights from the forum and said:
Good regulation, when consistently applied, leads to predictable results. Unfortunately, the U.S. fails that test miserably compared to its global counterparts.
Stuart Alderoty’s comments reflect growing frustration within the cryptocurrency industry over what many perceive as regulatory overreach by the SEC under Chair Gary Gensler. Besides, Alderoty’s critique underscores a broader issue: the perceived lack of clarity and consistency in the U.S. regulatory environment.
Meanwhile, this criticism comes amid an intensifying legal battle between Ripple and the SEC, which has accused Ripple of unlawfully selling unregistered securities in the form of XRP tokens. Ripple has consistently denied these allegations, continuing its battle against the SEC.
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XRP Lawyer Brings Global Comparisons
Stuart Alderoty’s dissatisfaction with U.S. regulators echoes sentiments shared by other industry figures. Pro-XRP lawyer Bill Morgan, commenting on the Ripple CLO’s post, noted similarities between the U.S. and Australian regulatory approaches.
He remarked that while Australia’s current government has been slow to pass meaningful crypto regulations, the Australian Securities and Investments Commission (ASIC) at least avoids the “madness of endless regulation by enforcement” seen with the U.S. SEC.
However, Morgan’s comment highlights the broader issue of regulatory uncertainty affecting not just the U.S. but also other jurisdictions. He stated on the X platform, “The U.S. shouldn’t feel alone. Australia under its current government is doing its part not to pass any meaningful crypto regulation too.”
These comments from Ripple CLO and Bill Morgan suggest a global need for a more coherent and consistent regulatory approach to digital assets. The lack of clear guidelines and transparency in crypto regulation has led to significant legal challenges for crypto companies, contributing to market uncertainty and stifling innovation.
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