Ripple’s CLO Calls for SEC Reform on Anniversary of XRP Lawsuit
Ripple's Chief Legal Officer, Stuart Alderoty, is calling for an end to the SEC's lawsuit against Ripple, labeling it "lawless" 🚨. This plea comes on the fourth anniversary of the lawsuit, which has been a long and costly battle for Ripple 🕒.
Alderoty is urging the incoming Trump administration to address the regulatory issues that have plagued the crypto industry, particularly the damaging statements made by former SEC official William "Bill" Hinman 📢. He believes the SEC's approach has been overly aggressive and has caused reputational damage to Ripple 🤕.
The lawsuit has been a significant burden for Ripple, with CEO Brad Garlinghouse stating that the company expects to have spent $200 million by its conclusion 💸. Despite this, XRP's price has shown resilience, currently trading at $2.21, with some analysts predicting a rally to $10 🚀 .
Alderoty's call for reform is not just about Ripple's own case but also about promoting clarity and fairness in the regulatory environment for the entire crypto industry 🌈. The SEC's approach has been criticized for being overly broad and damaging to innovation 🤖.
As the SEC faces a change in leadership, with Chair Gary Gensler stepping down, there is hope that the agency will take a more nuanced approach to regulating the crypto industry 🌟. Ripple's case is seen as a pivotal moment in the battle for clear and fair regulation of the crypto industry 🔓 .
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