Ripple Chief Legal Officer Stuart Alderoty has heavily criticized US policymakers for their anti-crypto stance and claims that the markets will prove them wrong. Moreover, he believes that the Securities and Exchange Commission (SEC) appeal will amplify Ripple’s victory.
US authorities, particularly the SEC, have declared a full-blown war against the crypto industry. While Ripple managed to secure a partial victory against the SEC, more regulatory challenges might lay ahead.
Ripple Chief Legal Officer: US is Falling Behind Rest of World
In a TechCrunch podcast, Alderoty highlighted the need for a rational, comprehensive, and understandable crypto regulatory framework in the USA. He emphasized that without regulatory clarity, the US will fall behind the rest of the world in fostering crypto innovation.
Learn more about Ripple vs. SEC lawsuit here
Alderoty also criticized US policymakers and boldly claimed they would soon be proven wrong. He said:
“The policymakers in the US that think that they are going to be able to regulate crypto out of existence are wrong. They are going to be proven wrong in court, which we did last week.
They are going to be proven wrong by the markets because the market is going to push this technology offshore.”
SEC’s Appeal Against Ripple
On July 13, Judge Analisa Torres ruled that XRP sales to individual investors did not violate securities laws.
But last week, the SEC signaled it would appeal against the court’s decision that partially favored Ripple. Moreover, SEC chair Gary Gensler has also expressed his disappointment with Judge Torres’ decision.
But Alderoty was confident that the new decision might further boost Ripple’s victory. Ripple CEO Brad Garlinghouse also slammed the SEC for creating a mess by policing crypto without having legal jurisdiction.
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