Ripple's Chief Legal Officer Provides Recommendations for SEC to Reform Cryptocurrency Rules

Golden Finance reported that Ripple's Chief Legal Officer Stuart Alderoty posted on X this week, sharing his recommendations with the incoming leadership of the U.S. SEC. Alderoty expressed confidence in the transition team's ability to effectively address cryptocurrency regulatory issues and urged multiple actions to be taken. He wrote, “I believe the transition team will consider these fundamental conditions of cryptocurrency and make the right decisions.” Alderoty suggested immediately ending cryptocurrency litigation unrelated to fraud and promoting collaboration by ensuring SEC commissioners Mark Uyeda and Hester Peirce remain in office. He emphasized the need to work with Congress and financial regulators to establish clear and direct cryptocurrency rules, rather than defaulting to the SEC's jurisdiction. Additionally, he called for the abandonment of the 2018 Hinman speech and the 2019 digital asset analysis framework, increasing transparency in the Freedom of Information Act (FOIA) process, and addressing past SEC issues through the Office of the Inspector General to take measures to restore public trust and accountability.