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Ripple's Chief Legal Officer proposes new leadership reforms to SEC for crypto regulations

Ripple's Chief Legal Officer proposes new leadership reforms to SEC for crypto regulations

Bitget2024/11/24 06:01

Ripple's Chief Legal Officer, Stuart Alderoty, posted on X this week, sharing his suggestions with the incoming leadership of the U.S. SEC.

Alderoty expressed confidence in the transition team's ability to effectively address cryptocurrency regulation issues and urged multiple actions. He wrote: "I believe that the transition team will take into account these basic conditions of cryptocurrencies and make the right decisions."

Alderoty suggested immediately ending cryptocurrency lawsuits unrelated to fraud and promoting cooperation by ensuring that SEC commissioners Mark Uyeda and Hester Peirce continue their terms.

He emphasized the need for clear, direct rules for cryptocurrencies through collaboration with Congress and financial regulators rather than defaulting to SEC jurisdiction. In addition, he called for abandoning Hinman's 2018 speech and 2019 digital asset analysis framework, improving transparency in Freedom of Information Act (FOIA) processes, addressing past issues with SEC through Inspector General Office measures to restore public trust and accountability.

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