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Ripple Counsel Stuart Alderoty Calls For Fair Crypto Laws

Stuart Alderoty, General Counsel for U.S. based blockchain enterprise Ripple, has penned an article demanding the halt to the SEC’s regulatory attacks on crypto. In...
Ripple Counsel Stuart Alderoty Calls For Fair Crypto Laws Ripple Counsel Stuart Alderoty Calls For Fair Crypto Laws

Stuart Alderoty, General Counsel for U.S. based blockchain enterprise Ripple, has penned an article demanding the halt to the SEC’s regulatory attacks on crypto. In the same write-up, Alderoty emphasized the urgent need for sensible crypto legislation from Washington.

Commenting on the case in which the SEC accused Ripple of raising capital through an unregistered digital asset securities offering in 2020, Alderoty asserts that “the case has emerged as the bellwether to get clarity on how to classify and regulate digital assets in the U.S.”

Recently, Ripple CEO Brad Garlinghouse also spoke about the need for clear and consistent crypto regulations in a public interview.

Alderoty Calls out SEC for Bullying the Market

Criticizing the SEC for being heavy-handed in its approach to crypto companies, Alderoty claims that, “rather than provide regulatory clarity through rulemaking, the SEC seeks to bully the market by filing, or threatening to file, enforcement cases.” He added, “Unproven allegations masquerading as regulation is bad policy that hurts consumers and markets who are whipsawed by the whims of an unchecked regulator.”

In his most recent tweet, Ripple’s attorney said: “I would rethink the “logic” of saying that crypto markets have to succumb to SEC jurisdiction b/c that’s like saying drivers of electric cars don’t need seatbelts.” He continued: “It’s actually more like punishing electric car drivers b/c they don’t use SEC-owned and controlled gas stations.”

Congress May Need to Step In

Speaking on the debate around whether the XRP could be classified as a security or not, Alderoty insisted, “this is all precisely why Congress needs to fix this mess and provide a comprehensive legislative framework for crypto.”

“[The] two bipartisan proposals (the ‘Digital Commodity Exchange Act’ and the ‘Responsible Financial Innovation Act’) that seek to define the line between securities and commodities in the digital asset space are a good start,” Alderoty emphasized.

On the Flipside

  • The legal battle between the SEC and Ripple has now been raging for 19 months.

Why You Should Care

Ripple outlined its potential plan to move to Canada in the event that it loses the case against the SEC.

Find out more about Ripple’s future plans:

Ripple Reveals Plans to Relocate if It Loses SEC Case – Sets up Shop in Canada

For recent developments on the Ripple v. SEC case, read:

Lawsuit Swings in Ripple’s Favor as Judge Denies the SEC’s Attorney-Client Privilege Claims

Continue reading on DailyCoin

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19-08-2022 15:47:11 (UTC+7)

EUR/USD

1.0085

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EUR/USD

1.0085

-0.0003 (-0.03%)

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GBP/USD

1.1888

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USD/JPY

136.51

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AUD/USD

0.6906

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USD/CAD

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EUR/JPY

137.64

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EUR/CHF

0.9657

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Gold Futures

1,767.35

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Silver Futures

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Copper Futures

3.6250

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Crude Oil WTI Futures

89.20

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Brent Oil Futures

95.21

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Natural Gas Futures

9.090

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US Coffee C Futures

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Euro Stoxx 50

3,747.75

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Neutral

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S&P 500

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IBEX 35

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BASF SE NA O.N.

43.263

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Bayer AG NA

53.27

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Allianz SE VNA O.N.

175.91

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Adidas AG

166.09

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Deutsche Lufthansa AG

6.327

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109.44

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8.597

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 EUR/USD1.0085↑ Sell
 GBP/USD1.1888Neutral
 USD/JPY136.51↑ Sell
 AUD/USD0.6906↑ Buy
 USD/CAD1.2975Neutral
 EUR/JPY137.64↑ Sell
 EUR/CHF0.9657↑ Sell
 Gold1,767.35↑ Buy
 Silver19.168↑ Buy
 Copper3.6250↑ Buy
 Crude Oil WTI89.20↑ Sell
 Brent Oil95.21↑ Sell
 Natural Gas9.090↑ Sell
 US Coffee C215.27↑ Buy
 Euro Stoxx 503,747.75Neutral
 S&P 5004,283.74Sell
 DAX13,580.64Neutral
 FTSE 1007,526.20Neutral
 Hang Seng19,772.50Neutral
 Small Cap 20002,000.73↑ Buy
 IBEX 358,350.97↑ Sell
 BASF43.263Sell
 Bayer53.27Sell
 Allianz175.91↑ Sell
 Adidas166.09↑ Sell
 Lufthansa6.327↑ Sell
 Siemens AG109.44↑ Sell
 Deutsche Bank AG8.597↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,600/ 6,700
(0/ 0) # 1,725
SJC HCM6,620/ 6,720
(0/ 0) # 1,745
SJC Hanoi6,620/ 6,722
(0/ 0) # 1,747
SJC Danang6,620/ 6,722
(0/ 0) # 1,747
SJC Nhatrang6,620/ 6,722
(0/ 0) # 1,747
SJC Cantho6,620/ 6,722
(0/ 0) # 1,747
Cập nhật 19-08-2022 15:47:13
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E5 RON 92-II23.72024.190
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Dầu hỏa 2-K23.32023.780
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.235,0023.545,00
EUR22.981,7524.268,73
GBP27.175,3928.334,31
JPY167,13176,93
KRW15,2618,59
Cập nhật lúc 15:44:06 19/08/2022
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