- Stuart Alderoty's Speech at the Conference
- Ripple's Legal Victories Against the SEC
- Endorsement of RLUSD Stablecoin
Ripple continues to advocate for regulation while securing legal wins. This article outlines the company's latest achievements in these areas.
Stuart Alderoty's Speech at the Conference
Ripple's Chief Legal Officer Stuart Alderoty participated in the Financial Markets Quality Conference 2024, speaking alongside high-ranking representatives from crypto giants like Robinhood and Grayscale. Alderoty once again highlighted the lack of clear cryptocurrency regulations in the U.S., referring to this situation as a 'regulatory cloud'.
Ripple's Legal Victories Against the SEC
Over the past year, Ripple has achieved significant courtroom victories against the Securities and Exchange Commission (SEC) led by Gary Gensler. Last summer, Federal Judge Analisa Torres ruled that XRP sales on secondary markets did not qualify as security sales. In its subsequent lawsuits against crypto exchanges, the SEC avoided referring to XRP as a security. This year, the SEC requested the court order Ripple to pay $2 billion in fines and compensate the regulator for its expenses. However, the judge ruled that Ripple must only pay $125 million, whereas the company initially suggested $10 million would be a fair amount.
Endorsement of RLUSD Stablecoin
In a recently published X post, known formally as Twitter, the official Ripple account shared an article on stablecoins, emphasizing their revolutionary role in cross-border payments. The primary convenience of these assets is their peg to fiat currencies, like the U.S. dollar or euro, particularly for users concerned about the high volatility of cryptocurrencies. In 2022, almost $7 trillion worth of international transfers were conducted using fiat-backed stablecoins, in partnership with Mastercard and PayPal. Ripple's RLUSD stablecoin, launched in August 2024, was designed to maintain a constant U.S. dollar peg and is fully backed by a mix of cash and equivalents on a 1:1 basis, compliant with regulatory standards.
Ripple continues to vigorously advocate for regulatory clarity and secure legal victories while launching new products such as the RLUSD stablecoin. These accomplishments underline its significant influence in the world of cryptocurrencies and financial technology.
Comments