Ripple Lawyer Criticizes SEC After Settlement Talks

On March 30, settlement talks took place between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), aimed at discussing issues and narrowing disputes, according to a court document. Stuart Alderoty, Ripple's chief legal officer, did not directly comment on the settlement talks themselves. However, he took to the X social media platform, criticizing the lack of clarity from the SEC.

Stuart Alderoty on Unfulfilled SEC Claims Stuart Alderoty, CLO of Ripple, sharply criticized the U.S. Securities and Exchange Commission for failing to provide clarity to the cryptocurrency industry even after 7 years since the release of the DAO report. The SEC claimed that the DAO report provided significant clarity to the cryptocurrency community in regulatory and operational aspects.

However, Alderoty noted that "something is broken" as the SEC continues to litigate 8 major cryptocurrency cases in federal courts. With disputes unresolved, court cases are becoming increasingly complex.

Settlement Talks in Ripple Vs. SEC Fox Business journalist Eleanor Terrett suggested that the settlement conference likely occurred before the pre-trial conference in April. Settlement talks are a meeting between two opposing parties in a lawsuit aimed at discussing issues and reaching mutual resolution of disputes or narrowing ongoing disputes before a trial.

Judge Analisa Torres requested discussions for a possible settlement ahead of the final pre-trial conference on April 16, for both representatives of both parties and Ripple and SEC executives.

Conclusions Meanwhile, the SEC seeks a final judgment against Ripple, demanding a fine of nearly $2 billion. In response, Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty sharply criticized the SEC and announced plans to expose the regulator's excessive actions in Ripple's filing on April 22.

Resolutions of these legal disputes can have a significant impact on shaping the regulation and functioning of digital assets in the USA. Both Ripple Labs and the SEC are expected to prepare for potentially significant events in this important legal battle, as the pre-trial conference on April 16 approaches.