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Stuart Alderoty, Ripple’s Chief Legal Officer, congratulated Donald Trump on winning the 2024 presidential elections in his X post. The tweet which was directed towards Trump, Alderoty acknowledged the vigorous nature of the presidential race and highlighted Trump’s willingness to work and engage with the crypto community.
Thank you to both campaigns for a hard-fought race and for invigorating the democratic process. Congratulations to @realDonaldTrump! You took the time to listen to Ripple’s story when we met in SF this summer, and you prioritized crypto as a key policy issue. Now, let’s move… https://t.co/AzT5pcIZrt
— Stuart Alderoty (@s_alderoty) November 6, 2024
“Thank you to both campaigns for a hard-fought race and for invigorating the democratic process. Congratulations to @realDonaldTrump!” Alderoty wrote. He then moved on to appreciating Trump for prioritizing crypto as one of the issue that needs the center stage. He also mentioned a meeting between him and Trump that took place in San Francisco, where Trump took the time out to listen to the Ripple story.
Ripple’s CLO Urges Removal of SEC’s “Regulation-by-Enforcement” Policy
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Additionally, Alderoty tweet also urges Trump to swiftly remove and put an end to the “regulation-by-enforcement” policy that is being practiced by the SEC due which the crypto community has been suffering and has created a state of sheer confusion within the industry. This approach of the SEC creates uncertainty and hinders innovation in the industry, which has been a major point of the focus in lawsuits between the SEC and various blockchain companies, including Ripple.
“Now, let’s move swiftly to end the regulation-by-enforcement approach we’ve endured in recent years and position the U.S. as the crypto capital of the world” Alderoty argued. This statement also indicates the urgency with which the community seeks regulatory guidelines clarity and supportive framework around the crypto industry for the United States to keep up with the competition in the industry.
Change is Across the Horizon
In one of the campaigns, Trump outlined his crypto-friendly policies. Out of those, one of them was to establish a crypto advisory council where the rules will be “written by the people who love the industry and not hate the industry”. From this, it can be said that the clarity around the regulatory guidelines is just across the horizon and the policies will roll out sooner than expected.
With Trump’s mission to make America the “crypto capital of the world” it seems like all of the prayers from the crypto community will be answered very soon. The community is also anticipating more favorable policies to roll up once Donald Trump gets into the Presidential office.