- Stuart Alderoty credits Ripple’s legal team for crafting a blueprint that helped push back against SEC overreach.
- Alderoty believes Ripple’s battle provided hope and direction for the entire industry.
- The statement comes as the SEC Chair steps down, signaling a potential shift in crypto regulation.
In a powerful statement, Stuart Alderoty, Ripple’s Chief Legal Officer, reflected on the company’s pivotal legal victory and its broader impact on the cryptocurrency industry.
He highlighted the courage of Ripple executives Brad Garlinghouse and Chris Larsen and the tireless efforts of Ripple’s legal team. Alderoty credited their resilience with shaping the legal battle that ultimately paved the way for the entire crypto sector to push back against regulatory overreach.
Alderoty emphasized that while “victory has a thousand fathers,” the collective efforts of Ripple’s leadership and its unnamed legal team members—who fought behind the scenes—were instrumental in challenging SEC Chair Gary Gensler’s aggressive stance on crypto regulation.
He noted that Ripple’s legal team not only defended the company but also created a blueprint that allowed the industry to survive and thrive amid the ongoing regulatory challenges.
Defeating Gensler’s War on Crypto
Alderoty’s comments come at a time of significant change in the regulatory landscape. Recently, Gary Gensler announced he will resign as SEC Chairman effective January 20, 2025, after former President Donald Trump takes office. Gensler’s resignation follows Trump’s pledge to fire him upon his return to the White House.
Gensler has been notorious for his skeptical stance toward crypto, which led to enforcement actions against firms like Ripple, Coinbase, Binance, and Kraken. With Gensler’s departure, the crypto community has been celebrating what it sees as the end of a challenging era of regulation and enforcement.
Ripple, which has been embroiled in a long-running legal battle with the SEC, has marked this moment as a turning point.
“The courage, resilience, and expertise of Ripple’s legal team provided the framework that helped us push back against Gensler’s inexplicable war on crypto,” Alderoty said. “We kept the door open long enough for the industry to survive and seize this incredible moment.”
XRP Army’s Vital Role
Alderoty also expressed his gratitude for the unwavering support of the XRP Army, which, he noted, provided much-needed hope during the darkest days of Ripple’s legal struggles. This victory, he concluded, is not just a win for Ripple but for the entire crypto industry, which can now look forward to a future with renewed confidence and optimism.
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