Ripple’s legal director, Stuart Alderoty, recently talked about the management of the Security and Exchange Commission) of cryptocurrency. Commenting on the agency’s decision to delete its appeal against Ripple, Alderoty asked why the SEC even pursued these cases in the first place.
He stressed that the SEC not only withdrew his file against Ripple, but also began to retreat actions against other crypto companies. According to Alderoty, it is because the SEC applied rules without clearly explaining what these rules are.
“We have never had appropriate guidelines and regulations for the crypto in this country,” said Alderoty. “Now it’s time to clean the waste, focus on managing our businesses and working alongside Congress to create smart and clear cryptographic regulations.”
He said that these new regulations should protect consumers, ensure market integrity, prevent bad players and above all – allow innovation in the cryptographic space to grow.
