Ripple CLO Applauds Singapore’s Regulations Amid US SEC Turmoil

Stuart Alderoty went on Twitter to praise how Singapore’s Monetary Authority deals with cryptocurrencies.

Ripple’s Chief Lego Officer, Stuart Alderoty, took to Twitter to praise the Monetary Authority of Singapore’s “workable” structure.

His views come at a time when the Securities and Exchange Commission of the United States is suing Ripple, Coinbase, Binance, and other crypto-related companies.

Stuart Alderoty praised Singapore for being able to make a “workable framework that really brings together consumer protection, market integrity, and innovation.”

They have also made a clear taxonomy for classifying and regulating digital assets. This makes it possible for companies like Ripple to make and sell goods that are in line with the rules.

His comments come just a few days after Ripple got a Singapore payments license in theory. Ripple is also in the middle of a court battle with the US Securities and Exchange Commission, which is also something to keep in mind.

The latter has said that the company sold securities without being registered, essentially saying that XRP is a security and putting a huge strain on the business.

The last thing Alderoty said also fits:

“It’s been said many times, but bears repeating – regulatory clarity is what will help drive crypto utility for real-world use cases.”