Ripple CLO Urges VP Kamala Harris to End SEC’s Crypto War

• Stuart Alderoty urges VP Harris to halt the SEC’s “misguided war on crypto” following a favorable court ruling.
• Emphasizing a “crypto reset,” Alderoty calls on the U.S. administration for immediate action on regulatory reform.
• As Ripple wins a key legal battle, industry leaders push for decisive action, including removing SEC Chair Gary Gensler.

Stuart Alderoty, Ripple’s Chief Legal Officer (CLO), has directly appealed to Vice President Kamala Harris. The appeal calls on her to stop what he characterizes as the “misguided war on crypto” by the U.S. Securities and Exchange Commission (SEC). This call to action comes after a ruling was made in a legal case between Ripple and the SEC, which has been the center of everyone’s attention in the crypto space.

In a recent X post, Alderoty emphasizes the need for urgent political intervention. He referenced Vice President Harris’ earlier suggestion of a “crypto reset” and insisted that the administration must act immediately if it is serious about recalibrating its approach to the industry. His remarks underscore the growing frustration within the crypto sector over what many perceive as the SEC’s overly aggressive regulatory stance.

In a recent interview with CNBC, Alderoty expressed cautious optimism about the court’s decision. The ruling ordered Ripple to pay a $125 million fine for failing to register sales of its XRP token to institutional investors. Notably, this penalty is significantly lower than the $2 billion initially sought by the SEC, a fact Alderoty highlighted as a victory for Ripple and the broader crypto community.

The timing of Alderoty’s appeal coincides with increased efforts by Vice President Harris’ campaign to engage with the crypto community. Earlier, Democratic Congressman Ro Khanna conducted a roundtable discussion. The briefing witnessed the presence of top officials like Deputy Treasury Secretary Wally Adeyemo and Deputy White House Chief of Staff Bruce Reed. 

This roundtable is part of Harris’ broader strategy to connect with the crypto industry, as evidenced by the ongoing Crypto4Harris town hall event. However, prominent figures like Ripple CEO Brad Garlinghouse and Alderoty are pushing for more than dialogue. They call for decisive action, including removing SEC Chair Gary Gensler, whom they view as a significant roadblock to the industry’s growth.

Ripple and its allies continue to press for regulatory clarity and fairness as the legal battles wind down. They call for forming an environment in which the growth of the great crypto industry in the United States is possible. The focus now is on Vice President Harris and whether she will answer this call and act to alter the direction of the SEC to embrace cryptocurrencies.