Stuart Alderothy is confident that Ripple will successfully defend its interests in its fight against the SEC and its use of “regulation through administrative coercion.” He believes in strengthening the role of the US judiciary in handling cases involving government regulators and members of the cryptocurrency community. Alderothy asserts that crypto companies will seek protection from unlawful actions and push for checks on the SEC’s powers in the US Supreme Court. This could potentially escalate into a head-to-head confrontation between the two entities.
Alderothy suggests that US lawmakers will eventually recognize the need for tailored legal regulations that take into account the unique characteristics of the digital asset industry. However, he anticipates that conflicts of interest within the US legislative branches will hinder progress. He predicts a stalemate in implementing new regulatory rules, which could further expose American crypto firms to vulnerability.
In a previous announcement, Ripple revealed that the SEC was compelled to drop unsubstantiated charges against Ripple’s CEO Brad Garlinghouse and co-founder Chris Larsen.