Ripple Vs SEC: Ripple CLO Stuart Alderoty Pleas To End And “Restore Trust”

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As a seasoned analyst with over two decades of experience in the financial industry, I have witnessed numerous regulatory battles and their impact on both companies and investors alike. The ongoing Ripple vs SEC lawsuit is one such battle that has left many in the crypto community confused and uncertain.

In celebration of the fourth year since the US Securities and Exchange Commission (SEC) took legal action against Ripple Labs Inc (SEC v. Ripple), Chief Legal Officer (CLO) Stuart Alderoty has publicly voiced his desire for the lawsuit to conclude. He specifically addressed the need for the incoming Donald Trump administration to rectify the harm caused by former SEC official William “Bill” Hinman, who made regulatory statements that led to confusion within the crypto industry.

Ripple CLO Stuart Alderoty Calls for End of SEC “Lawless Lawsuit”

On the fourth anniversary of the Ripple vs SEC legal battle, Stuart Alderoty voiced his opinion, urging an end to the seemingly unregulated lawsuit brought forth by the US Securities and Exchange Commission against Ripple’s CEO Brad Garlinghouse and co-founder Chris Larsen.

As a passionate investor in the cryptocurrency space, I felt compelled to echo the sentiments expressed by Brad Garlinghouse, Ripple’s CEO, regarding the incoming Trump administration. He urged for a review of the regulatory statements made by William Hinman, which have had a profound effect on our industry. While Hinman’s speeches and emails have provided some clarity, they have also introduced confusion about the status of cryptocurrencies. This ambiguity has led to conflicts of interest, most notably in the ongoing Ripple vs SEC lawsuit. It is crucial that these issues are addressed for the sake of a fair and transparent regulatory environment.

In reference to the fourth year since the Securities and Exchange Commission (SEC) filed a lawsuit considered unlawful against Ripple, Brad Garlinghouse, and Chris Larsen, we encourage the new administration to remove the residual taint left by the Hinman case within the agency.

Moreover, Ripple’s General Counsel Stuart Alderoty stated that the Trump administration has significant work ahead to mend the harm caused. Crucially, under newly appointed crypto-friendly Chair Paul Atkins, the Securities and Exchange Commission (SEC) must begin by rebuilding trust. US judges have criticized the SEC for acting in an arbitrary and capricious manner, straying from the law’s faithful interpretation. The agency has been subject to criticism due to its excessive regulation and enforcement tactics.

What’s Next in XRP-related Lawsuits

As a researcher, I’m following the progress of the legal battle between Ripple and the Securities and Exchange Commission (SEC). The SEC has been given a deadline of January 15 to file its opening brief in this case. Notably, this deadline comes just five days before Gary Gensler steps down as the Chair of the SEC. The agency has previously appealed the distribution and sales of XRP by Ripple, as well as its executives Garlinghouse and Larsen, in the 2nd Circuit Court.

Currently, there’s a sense of optimism within the crypto community as they believe that ongoing crypto-related lawsuits may either be dropped or ruled in favor of dismissal during the tenure of the Trump administration.

Apart from the ongoing class action lawsuit against Ripple, XRP II, and CEO Garlinghouse, it appears that the case is nearing its end, as the district court has ruled in favor of the defendants. Moreover, the lead plaintiffs have agreed to hasten the final verdict in the lawsuit, and they’ve also proposed an order suggesting that there’s no need for further delay in rendering judgment.

According to CoinGape’s report, the XRP lawsuit court date schedule has been set. The initial brief is due on March 6 of next year. On April 7, 2025, Ripple Labs, XRP II, and CEO Brad Garlinghouse will submit their responses to the main brief filed by the appellant.

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2024-12-23 13:18