Following Ripple's recent victory over the SEC, the company is determined to continue advocating for clear and fair crypto regulations. Ripple's top legal mind, Stuart Alderoty, asserts that this is just the beginning.
Ripple's Victory Over SEC and Their Next Steps
Earlier this week, Ripple announced that the SEC would abandon its controversial appeal against the company. This followed the agency's decision to drop several high-profile cases against industry giants like Coinbase and Kraken. The company is yet to withdraw its cross-appeal, and it is unclear whether Ripple will proceed with it. CEO Brad Garlinghouse indicated in a Bloomberg interview that the company is still considering its next steps.
Hester Peirce's Comment and Ripple’s Position
In response to pro-crypto SEC Commissioner Hester Peirce, Ripple stated that the application of the Howey Test was 'distorted' by the previous administration. The company urged the new SEC leadership to 'disavow' such distortions and avoid creating 'needlessly complex' approaches. Ripple argues that the SEC should remain within its 'statutory bounds'.
Caroline Crenshaw's Role and SEC's New Vector
The SEC's newly formed crypto task force recently held its first roundtable. Former SEC official John Reed Stark stated he was particularly impressed with Commissioner Caroline Crenshaw, whom he praised as a 'true investor champion'. Crenshaw, the lone dissenting voice at the SEC, emphasized that 'holistic protection of the markets has always been and must remain our North Star'.
Ripple is poised to continue its path towards creating a more transparent and equitable legal landscape for cryptocurrencies. The interaction with the SEC, the company’s stance, and its future plans play a crucial role in shaping these clear rules.
