XRP Lawyer Says, SEC Lawsuit Will Affect Future Of Crypto In The US
The top lawyer for Ripple Lab is warning that the outcome of the lawsuit against the company by the U.S. Securities and Exchange Commission (SEC) will have a big effect on the future of crypto in the US.
Stuart Alderoty, the general counsel of Ripple and an expert in crypto law, says that the outcome of the suit will have an effect on how crypto assets are regulated in the US.
“No matter how you dissect it, the experts agree – the outcome of the Ripple case will likely have a significant impact on crypto’s future in the US.”
Alderoty also wants to dispel the idea that big names in the cryptocurrency industry are against regulations.
“There’s a misconception that actors in the crypto space do not want regulation, and I think responsible actors in the crypto space actually do want regulation. The reason they want regulation [is because] it’s good for their business, it’s good for their customers, it’s good for the markets, and the way you get there is through clear regulation.
Clear regulations, consistently applied, lead to predictable outcomes and predictable outcomes are good for everybody. If you don’t know what the law requires, you can’t comply with the law. And the law inconsistently applied leads to unpredictable outcomes.”
Alderoty has recently said that the SEC lawsuit will end in Ripple’s favor in the first half of 2023. The SEC first sued Ripple in December 2020, saying that the company had sold XRP without having it registered as a security.
