Ripple's chief legal officer provides SEC with new leadership's advice on reforming crypto rules
Internet reports that Ripple's chief legal officer Stuart Alderoty posted on X this week, sharing his advice with the incoming US SEC leadership. Alderoty expressed confidence in the transition team's ability to effectively address cryptocurrency regulatory issues and urged multiple actions. He wrote: "I believe that the transition team will consider these basic conditions of cryptocurrency and make the right decision." Alderoty recommended immediately ending cryptocurrency lawsuits that are not related to fraud and promoting cooperation by ensuring that SEC Commissioners Mark Uyeda and Hester Peirce remain in office. He emphasized the need to work with Congress and financial regulators to develop clear and straightforward cryptocurrency rules, rather than acquiescing to the SEC's jurisdiction. In addition, he called for abandoning Hinman's 2018 speech and the 2019 digital asset analysis framework, improving transparency in the Freedom of Information Act (FOIA) process, and taking steps to restore public trust and accountability through the Office of the Inspector General to address past SEC issues.
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