{"id":26387,"date":"2024-08-10T18:30:55","date_gmt":"2024-08-10T15:30:55","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=26387"},"modified":"2024-08-10T17:07:19","modified_gmt":"2024-08-10T14:07:19","slug":"ripples-chief-legal-officer-urges-kamala-harris-to-end-secs-war-on-crypto","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ripples-chief-legal-officer-urges-kamala-harris-to-end-secs-war-on-crypto\/","title":{"rendered":"Ripple\u2019s Chief Legal Officer Urges Kamala Harris to End SEC\u2019s War on Crypto"},"content":{"rendered":"<p>Ripple\u2019s Chief Legal Officer (CLO) Stuart Alderoty has called on US Vice President Kamala Harris to end the SEC\u2019s crackdown on crypto. The call comes after Harris\u2019 campaign joined the discussions about a \u201ccrypto reset.\u201d<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/ripples-chief-legal-officer-urges-kamala-harris-to-end-secs-war-on-crypto\/#Ripples_Chief_Legal_Officer_Calls_Kamala_Harris\" title=\"Ripple\u2019s Chief Legal Officer Calls Kamala Harris\">Ripple\u2019s Chief Legal Officer Calls Kamala Harris<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/ripples-chief-legal-officer-urges-kamala-harris-to-end-secs-war-on-crypto\/#Alderotys_Comments_on_Ripple_SEC_Lawsuit_Decision\" title=\"Alderoty\u2019s Comments on Ripple SEC Lawsuit Decision\">Alderoty\u2019s Comments on Ripple SEC Lawsuit Decision<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Ripples_Chief_Legal_Officer_Calls_Kamala_Harris\"><\/span>Ripple\u2019s Chief Legal Officer Calls Kamala Harris<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Stuart Alderoty has made a strong call to Vice President Kamala Harris to end the SEC\u2019s \u201cmisguided war\u201d on crypto. The statement comes after a major court ruling in the ongoing legal battle between Ripple and the SEC.<\/p>\n<p>While Alderoty expressed optimism about the court ruling in an interview, he later emphasized the need for urgent political intervention in a statement on the X platform. \u201cIf this administration is seriously looking for a \u2018reset,\u2019 it should act NOW to end the SEC\u2019s misguided war on crypto,\u201d he said, referring to Harris\u2019 proposed \u201ccrypto reset.\u201d The statement underscores the crypto community\u2019s urgency over the SEC\u2019s regulatory approach.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Alderotys_Comments_on_Ripple_SEC_Lawsuit_Decision\"><\/span>Alderoty\u2019s Comments on Ripple SEC Lawsuit Decision<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This week, the court ordered Ripple to pay a $125 million penalty for failing to register its XRP token sales to institutional investors. That amount is far less than the $2 billion the SEC had initially sought. Alderoty called the outcome of the Ripple SEC lawsuit a victory not just for Ripple, but for the entire crypto industry.<\/p>\n<p>\u201cRipple did not act recklessly\u2026 There are no victims; there were no financial losses to the counterparties to these transactions,\u201d Alderoty said. He also noted that the court\u2019s decision provided much-needed clarity. The court\u2019s ruling that XRP itself is not a security resolves a key issue at the heart of the case.<\/p>\n<p><em>You may also be interested in: <a href=\"https:\/\/coinengineer.net\/blog\/ripple-begins-beta-testing-ripple-usd-on-xrpl-and-ethereum\/\">Ripple Begins Beta Testing Ripple USD On XRPL And Ethereum<\/a><\/em><\/p>\n<p>\u201cThe fundamental clarity that we are seeking in this case is that XRP is not a security per se\u2026 just like a gold bar is never a security,\u201d Alderoty said. He noted that this decision sets a critical legal precedent that could impact crypto regulation. Despite the positive result, Alderoty acknowledged the possibility of an SEC appeal. However, Ripple expressed confidence that the SEC case is nearing its end. \u201cFor us, it is finally over\u2026 If the SEC is a rational actor\u2026 there should be no appeals,\u201d he said. He also emphasized that the blockchain payments firm is focused on growing its business and moving forward.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple\u2019s Chief Legal Officer (CLO) Stuart Alderoty has called on US Vice President Kamala Harris to end the SEC\u2019s crackdown on crypto. The call comes after Harris\u2019 campaign joined the discussions about a \u201ccrypto reset.\u201d Ripple\u2019s Chief Legal Officer Calls Kamala Harris Stuart Alderoty has made a strong call to Vice President Kamala Harris to<\/p>\n","protected":false},"author":6,"featured_media":21834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[509,7538,7539],"class_list":["post-26387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-ripple","tag-ripple-sec","tag-ripple-sec-case"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ripple\u2019s Chief Legal Officer Urges Kamala Harris to End SEC\u2019s War on Crypto - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ripples-chief-legal-officer-urges-kamala-harris-to-end-secs-war-on-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple\u2019s Chief Legal Officer Urges Kamala Harris to End SEC\u2019s War on Crypto - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Ripple\u2019s Chief Legal Officer (CLO) Stuart Alderoty has called on US Vice President Kamala Harris to end the SEC\u2019s crackdown on crypto. The call comes after Harris\u2019 campaign joined the discussions about a \u201ccrypto reset.\u201d Ripple\u2019s Chief Legal Officer Calls Kamala Harris Stuart Alderoty has made a strong call to Vice President Kamala Harris to\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/ripples-chief-legal-officer-urges-kamala-harris-to-end-secs-war-on-crypto\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-10T15:30:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-10T14:07:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/06\/ripple-stablecoin.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ripples-chief-legal-officer-urges-kamala-harris-to-end-secs-war-on-crypto\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/ripples-chief-legal-officer-urges-kamala-harris-to-end-secs-war-on-crypto\/\",\"name\":\"Ripple\u2019s Chief Legal Officer Urges Kamala Harris to End SEC\u2019s War on Crypto - 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