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Ripple's Chief Legal Officer Advises SEC on New Leadership to Reform Crypto Rules

Stuart Alderoty, Ripple's chief legal officer, shared his advice with the incoming US SEC leadership in an X post this week. Alderoty expressed confidence in the transition team's ability to effectively address cryptocurrency regulatory issues and urged a number of actions. "I am confident that the transition team will make the right decision considering these fundamental conditions for cryptocurrencies," he wrote. Alderoty recommended an immediate end to crypto litigation unrelated to fraud and promoting cooperation by ensuring that SEC Commissioners Mark Uyeda and Hester Peirce remain in office. He emphasized the need to work with Congress and financial regulators to develop clear, straightforward cryptocurrency rules, rather than tacitly defaulting to the SEC's jurisdiction. In addition, he called for the abandonment of the 2018 Hinman speech and the 2019 Digital Asset Analysis Framework, greater transparency of the Freedom of Information Act (FOIA) process, and steps to restore public trust and accountability by addressing past SEC issues through the Office of the Inspector General.