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Stuart Alderoty Urges SEC Reform on 4th XRP Case Anniversary
As the fourth anniversary of the Securities and Exchange Commission’s (SEC) lawsuit against Ripple approaches, Stuart Alderoty has called for urgent reforms to be implemented by the incoming administration. This comes after a long-standing legal battle that has spanned nearly four years, during which time the cryptocurrency market has been left in limbo.
Alderoty, who serves as Chief Legal Officer at Ripple, took to social media to urge the new administration to address the trust issues that have been left in its wake. He highlighted the need for the SEC to be reformed and restored to an era of transparency and accountability.
The impetus for this call to action stems from the controversial actions taken by the SEC since the lawsuit was filed in 2020. As Alderoty put it, “On this 4th anniversary of the SEC’s lawless lawsuit against Ripple, Brad, & Chris, we urge the incoming administration to cleanse the lingering stain of Hinman from the agency.”
The issue at hand is the classification of XRP, a cryptocurrency developed by Ripple, as a security. This move has left many in the crypto community feeling frustrated and confused about the regulatory landscape.
Despite this, the SEC’s stance on the matter remains unchanged. It will be interesting to see how the new administration tackles these issues and addresses the concerns raised by Alderoty.
Sources:
Source: cryptotale.org
