Ripple's Legal Chief Optimistic About SEC Lawsuit Withdrawal

According to Odaily, Stuart Alderoty, the Chief Legal Officer of blockchain payment company Ripple Labs, expressed optimism that the U.S. Securities and Exchange Commission's (SEC) potential next chairman might withdraw civil lawsuits against cryptocurrency companies once confirmed by the Senate. Alderoty hopes that under the leadership of potential chairman Paul Atkins, the SEC will abandon enforcement cases related to registration issues that do not involve fraud. Ripple remains embroiled in a lawsuit with the SEC, with both parties appealing after a liability ruling was issued by a judge in 2024. Alderoty noted that resolving the matter will take time, as the SEC is still a bureaucratic institution. He emphasized that regulation through litigation is not the path the country should take and expressed cautious optimism that the case might be voluntarily withdrawn sometime in 2025.