The post Ripple CLO Calls On Kamala Harris To End SEC’s War On Crypto appeared on BitcoinEthereumNews.com.

Stuart Alderoty, Ripple’s Chief Legal Officer (CLO), has issued a strong call for action from Vice President Kamala Harris. He urged the VP to end what he describes as the U.S. Securities and Exchange Commission’s (SEC) “misguided war on crypto.” This statement comes in the wake of a significant court ruling in the ongoing legal battle between Ripple and the SEC. Ripple CLO’s Request To Kamala Harris Alderoty’s comments were made in the backdrop of a recent interview where he expressed optimism about the court’s decision. However, he took recently took to X and emphasized the need for immediate political intervention. He referred to Vice President Kamala Harris’ proposed “crypto reset.” Alderoty stated, “If this Admin is serious about a ‘reset,’ it must act NOW to end the SEC’s misguided war on crypto.” Moreover, his remarks underscore the urgency that the crypto community feels in addressing the SEC’s regulatory approach, which many industry leaders view as hostile. Alderoty On Recent Ripple SEC Lawsuit Ruling This week, on Wednesday, the court ordered Ripple to pay a $125 million fine for failing to register sales of its XRP token to institutional investors. This amount is significantly less than the $2 billion originally sought by the SEC. Hence, Alderoty hailed the Ripple SEC lawsuit ruling as a victory not only for them but for the entire crypto industry. He stated, “Ripple didn’t act recklessly… There were no victims; the counterparties to those transactions suffered no financial loss at all.” Furthermore, Alderoty further explained that the court’s decision provided much-needed clarity. It established that XRP itself is not a security, which has been a central issue in the case. “The core clarity that we sought in this case [is] that XRP is not in and of itself a security… just like a bar of…

---

Filed under: News - @ August 10, 2024 9:08 pm