The post Ripple Lawsuit News: CLO Reveals Why The SEC Agreed To Drop XRP Case After Four Years appeared first on Coinpedia Fintech News
Ripple’s Chief Legal Officer, Stuart Alderoty, recently spoke out about the U.S. Securities and Exchange Commission’s (SEC) handling of cryptocurrency cases. Commenting on the agency’s decision to drop its appeal against Ripple, Alderoty questioned why the SEC even pursued such cases in the first place.
He pointed out that the SEC hasn’t just withdrawn its case against Ripple, but has started backing down from actions against other crypto companies as well. According to Alderoty, this is because the SEC has been enforcing rules without clearly explaining what those rules are.
“We never had proper guidelines and regulations for crypto in this country,” Alderoty said. “Now, it’s time to clean up the mess, focus on running our businesses, and work alongside Congress to create smart, clear crypto regulations.”
He said that these new regulations should protect consumers, ensure market integrity, keep bad actors out, and most importantly — allow innovation in the crypto space to grow.