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Stuart Alderoty, the Chief Legal Officer of Ripple, evaluated the cryptocurrency asset regulations in the US and regulators’ approach to crypto assets in an interview with CNBC. Alderoty criticized the US regulators’ approach to the crypto industry and stated that he does not expect a positive policy change in the near future.
Statements from Ripple Official
The ongoing court process between the US Securities and Exchange Commission (SEC) and Ripple has become a symbol of tension between crypto companies and financial regulatory institutions. Both sides, especially the SEC, have received intense criticism during this process.
Although the decision that XRP sales do not constitute an investment contract, which was issued in mid-July by the court, was considered a victory for Ripple in the crypto industry, the court process has not yet ended. Ripple officials, who have made statements to the public criticizing US regulators, have also started to expand the company’s activities outside the US.
Ripple CEO Brad Garlinghouse has also made several statements on the topic during this process. The statements emphasized that the company is taking important steps to expand its activities outside the US.
Ripple recently obtained the necessary license in Singapore to provide crypto payment services. Stuart Alderoty, the Chief Legal Officer of Ripple, mentioned the approved license application in Singapore during his interview with CNBC and made statements targeting US regulators.
Regulation Call from the Company’s Chief Legal Officer
Stuart Alderoty, the Chief Legal Officer of Ripple, discussed various topics such as the company’s approved license application in Singapore, the steps the company can take in the future, crypto asset regulations in the US, and US regulators’ approach to cryptocurrencies in an interview with CNBC. Alderoty, who heavily criticized financial regulatory institutions, referred to countries that adopt a rational policy in crypto asset regulations and stated that US regulators should take these countries as an example.
Highlighting the regulatory uncertainty in the US, Stuart Alderoty emphasized the disagreements between regulatory institutions. Alderoty underlined the need for radical changes in the adopted attitude towards cryptocurrencies and crypto regulations by regulators. However, while calling on US regulators, Alderoty also stated that he does not expect a radical policy change in the near future.
