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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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13-08-2022 04:22:29 (UTC+7)

EUR/USD

1.0261

-0.0056 (-0.54%)

Summary

↑ Buy

Moving Avg:

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Indicators:

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Sell (2)

EUR/USD

1.0261

-0.0056 (-0.54%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

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GBP/USD

1.2135

-0.0076 (-0.63%)

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↑ Sell

Moving Avg:

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Indicators:

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USD/JPY

133.46

+0.46 (+0.34%)

Summary

↑ Sell

Moving Avg:

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Indicators:

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AUD/USD

0.7121

+0.0016 (+0.23%)

Summary

↑ Sell

Moving Avg:

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USD/CAD

1.2774

+0.0013 (+0.10%)

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↑ Buy

Moving Avg:

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EUR/JPY

136.93

-0.29 (-0.21%)

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EUR/CHF

0.9659

-0.0046 (-0.48%)

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Gold Futures

1,818.40

+11.20 (+0.62%)

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20.835

+0.486 (+2.39%)

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Copper Futures

3.6783

-0.0282 (-0.76%)

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Crude Oil WTI Futures

91.88

-2.46 (-2.61%)

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97.90

-1.70 (-1.71%)

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Natural Gas Futures

8.780

-0.094 (-1.06%)

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US Coffee C Futures

227.53

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Euro Stoxx 50

3,776.81

+19.76 (+0.53%)

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Sell

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S&P 500

4,280.15

+72.88 (+1.73%)

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DAX

13,795.85

+101.34 (+0.74%)

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Neutral

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FTSE 100

7,500.89

+34.98 (+0.47%)

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Neutral

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20,175.62

+93.19 (+0.46%)

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US Small Cap 2000

2,013.09

+37.84 (+1.92%)

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IBEX 35

8,400.40

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BASF SE NA O.N.

44.155

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54.15

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181.08

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Adidas AG

173.20

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6.588

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Siemens AG Class N

111.84

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9.061

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 EUR/USD1.0261↑ Buy
 GBP/USD1.2135↑ Sell
 USD/JPY133.46↑ Sell
 AUD/USD0.7121↑ Sell
 USD/CAD1.2774↑ Buy
 EUR/JPY136.93Sell
 EUR/CHF0.9659↑ Sell
 Gold1,818.40↑ Buy
 Silver20.835↑ Buy
 Copper3.6783↑ Buy
 Crude Oil WTI91.88↑ Buy
 Brent Oil97.90Buy
 Natural Gas8.780↑ Buy
 US Coffee C227.53↑ Buy
 Euro Stoxx 503,776.81Sell
 S&P 5004,280.15↑ Buy
 DAX13,795.85Neutral
 FTSE 1007,500.89Neutral
 Hang Seng20,175.62↑ Buy
 Small Cap 20002,013.09↑ Buy
 IBEX 358,400.40↑ Sell
 BASF44.155↑ Buy
 Bayer54.15↑ Buy
 Allianz181.08↑ Sell
 Adidas173.20↑ Buy
 Lufthansa6.588↑ Sell
 Siemens AG111.84↑ Sell
 Deutsche Bank AG9.061↑ Buy
Mua/Bán 1 chỉ SJC
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SJC Eximbank6,620/ 6,720
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Cập nhật 13-08-2022 04:22:31
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ↀ Giá vàng thế giới
$1,801.89+12.740.71%
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RON 95-V25.34025.840
RON 95-III24.66025.150
E5 RON 92-II23.72024.190
DO 0.05S22.90023.350
DO 0,001S-V24.88025.370
Dầu hỏa 2-K23.32023.780
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WTI$91.88+0.550.60%
Brent$97.89+0.110.11%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.220,0023.530,00
EUR23.498,0024.813,92
GBP27.761,8728.945,83
JPY170,70180,72
KRW15,5018,89
Cập nhật lúc 18:51:42 12/08/2022
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