Regulation
Ripple CLO Slams US Regulatory Approach to Cryptocurrency Regulation
The legal battle between Ripple and the US SEC has been one of the hottest topics in the cryptocurrency city. Now, amidst the escalating battle, Ripple’s Chief Legal Officer (CLO) Stuart Alderoty has shown dismay at the US regulator with its approach to cryptocurrency regulation. Notably, he has also previously harshly criticized the United States SEC and its Chairman Gary Gensler for their excessive regulation of the digital assets industry.
Ripple CLO Slams US Regulatory Approach
During a recent roundtable discussion at the Point Zero Forum in Zurich, Switzerland, CLO ripple Stuart Alderoty expressed his discontent with the US regulatory framework for digital assets. The Ripple CLO argued that effective cryptocurrency regulation should lead to predictable outcomes if applied consistently.
However, he stressed that the US is lacking in this regard compared to its global counterparts. In a post on the X platform, Alderoty shared his insights from the forum and said:
Good regulation, if applied consistently, leads to predictable results. Unfortunately, the US fails this test miserably compared to its global counterparts.
Stuart Alderoty’s comments reflect growing frustration within the cryptocurrency industry over what many perceive as overregulation by the SEC under Chairman Gary Gensler. Moreover, Alderoty’s criticism underscores a broader problem: the perceived lack of clarity and consistency in the U.S. regulatory environment.
Meanwhile, this criticism comes amid an increasingly intense legal battle between Ripple and the SEC, which has accused Ripple of illegally selling unregistered securities in the form of XRP tokens. Ripple He has always denied these accusations, continuing his battle against the SEC.
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XRP Advocate Brings Global Comparisons
Stuart Alderoty’s dissatisfaction with US regulators echoes sentiments shared by other industry figures. Pro-XRP advocate Bill Morgan, commenting on the Ripple CLO post, noted similarities between US and Australian regulatory approaches.
He noted that while the current Australian government has been slow to pass meaningful measures, cryptocurrency regulationsThe Australian Securities and Investments Commission (ASIC) at least avoids the “madness of endless regulation through enforcement” seen with the US SEC.
However, Morgan’s comment highlights the broader issue of regulatory uncertainty affecting not only the US, but other jurisdictions as well. He said on the X platform: “The US should not feel alone. Australia, under its current government, is also doing its part to not pass any meaningful regulation on cryptocurrencies.”
These comments from Ripple CLO and Bill Morgan suggest a global need for a more consistent and uniform regulatory approach to digital assets. The lack of clear guidelines and transparency in cryptocurrency regulation has led to significant legal challenges for cryptocurrency companies, contributing to market uncertainty and stifling innovation.
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