The company is urging the U.S. Securities and Exchange Commission to rebuild trust and credibility.
With the lawsuit now hitting its four-year mark, Ripple’s Chief Legal Officer, Stuart Alderoty, is pushing for changes under the incoming administration.
Year’s work
On Sunday, Alderoty took to social media to mark this milestone, saying, the SEC had no clarity.
“On this 4th anniversary of the SEC’s lawless lawsuit against Ripple, Brad, & Chris, we urge the incoming administration to cleanse the lingering stain of Hinman from the agency. There’s much more to do to repair the damage, but let’s start by restoring trust.”
The ongoing dispute revolves around allegations that Ripple’s sale of XRP tokens amounted to unregistered securities offerings, and the SEC filed suit against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen.
While Ripple celebrated a partial legal victory in 2023, the SEC is still appealing that decision.
Controversy
Alderoty’s comments also reflect Ripple’s long-standing criticism of former SEC official William Hinman, as his statements regarding Ethereum’s regulatory status have been a sticking point throughout this case.
With President-elect Donald Trump about to take office, there’s speculation that his administration might be more crypto-friendly, more business-friendly, potentially reshaping SEC leadership and policies.
New era?
Ripple sees this as an opportunity to foster clearer guidelines for digital assets and restore regulatory trust.
They believe that with a new SEC Chair and possibly a “Crypto Czar,” there could be a shift toward more supportive policies for the crypto industry.
Despite ongoing legal challenges, Ripple remains optimistic that the new administration will prioritize fairer regulations and reduce uncertainty in the crypto space, because they’re hoping for a future where innovation can thrive without being oppressed by regulatory confusion.
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