Ripple's Chief Legal Officer, Stuart Alderoty, commented on the changes in SEC policy, hinting at possible softening of their stance regarding cryptocurrencies.
SEC's New Policy
Stuart Alderoty praised SEC Chair Gary Gensler for moving away from the aggressive stance of the previous administration. According to him, past leaders contributed to pushing crypto companies offshore. Gensler now aims to create clear and well-thought-out standards for regulating the cryptocurrency market.
Ripple's Statement
Alderoty stated: "Chair Gensler knows the prior administration pushed crypto companies offshore. He’s now focused on clear, tailored standards — and drawing firm lines to curb SEC overreach." These comments came shortly after the SEC launched 'Project Crypto', aimed at updating rules for on-chain financing.
Prospects for the XRP Case
The SEC's change in tone has led to renewed speculation that the XRP lawsuit may soon conclude. Notable lawyer Bill Morgan raised the question of whether the SEC will now move to drop its appeal in the case against Ripple. Former SEC attorney Marc Fagel expressed confidence that both Ripple and the SEC may file to dismiss their respective appeals ahead of the looming August 15 deadline.
Public and legal community attention is focused on the unfolding changes in the SEC and their potential implications for the Ripple case and the entire crypto market.
