Stuart Alderoty Claims Ripple Could Be Trusted Crypto Solutions Provider
Ripple's Chief Legal Officer, Stuart Alderoty, indicated in a video on X that Ripple could become the most trusted source for enterprise crypto solutions, contingent on improved regulatory clarity in the US market. He expressed confidence that a shift in administration could lead to a more favorable environment for the crypto industry.
“When this regulatory cloud is lifted, and we get some policy clarity in the US, we will then be the most trusted source for enterprise support for crypto solutions in the US.”
SEC Disputes Impacting XRP's Progress
Ripple has been embroiled in legal challenges with the SEC since 2020, facing allegations of selling unregistered securities. A court ruling in July 2023 determined that XRP sales were not classified as securities; however, Ripple incurred a $125 million fine for violations related to institutional sales. The SEC sought further review of XRP’s classification in October 2024, continuing the regulatory ambiguity. Ripple also filed a cross-appeal to address all related matters thoroughly.
Despite being a major player in the crypto sector, Ripple's growth is stymied by ongoing legal issues. XRP recently achieved status as the third-largest cryptocurrency by market capitalization but lost this position due to price depreciation, leading to Tether USDT overtaking it.
Increasing Optimism Amid Pro-Crypto Appointments
Ripple executives express hope for changes in US crypto policy. CEO Brad Garlinghouse praised Paul Atkins' nomination as the next SEC chairman, anticipating a shift towards less restrictive regulations. Alderoty supported Garlinghouse's view, highlighting that Atkins, along with Hester Peirce and Mark Uyeda, could restore 'common sense' to the SEC while safeguarding investors.
Additionally, David Sacks' appointment as the artificial intelligence and crypto czar received commendation from both executives. Garlinghouse noted Sacks' potential to advance Trump's initiatives in crypto and AI innovation, while Alderoty emphasized Sacks' business-friendly approach could facilitate clearer cryptocurrency regulations in the US.
The installation of pro-crypto leaders at the SEC may transform Alderoty's optimism into reality, potentially alleviating the legal challenges faced by XRP and promoting its price growth.