Stuart Alderoty, Ripple’s Chief Legal Officer (CLO), has called on the incoming Trump administration to address the issues created by former SEC official William “Bill” Hinman. Alderoty emphasized that Hinman’s misleading regulatory statements had caused confusion across the cryptocurrency industry while benefiting select parties.
Alderoty also highlighted the urgent need for the new crypto-friendly SEC chair, Paul Atkins, to restore public confidence in the agency. On the fourth anniversary of the Ripple vs. SEC lawsuit, Alderoty, representing Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen, publicly demanded the termination of what he referred to as the SEC’s “lawless lawsuit” against Ripple.
Ripple’s Plea for Reform
In a post on X (formerly Twitter), Alderoty urged the Trump administration to “remove the lingering stain of Hinman” from the SEC. Hinman’s regulatory actions had left the crypto sector in disarray, creating conflicts of interest and regulatory ambiguity, as evidenced in the Ripple vs. SEC case. Ripple’s CLO stressed that the Trump administration would need to undertake significant efforts to repair the damage caused.
The SEC’s handling of the Ripple case has drawn criticism for its perceived overreach and aggressive enforcement tactics. U.S. courts have found the agency’s actions to be “arbitrary and capricious,” undermining its credibility and fueling discontent within the crypto industry.
As part of the ongoing legal battle, the SEC is required to file its opening brief in the Ripple case by January 15, just days before SEC Chair Gary Gensler’s anticipated resignation.
