Stuart Aldeoti, Chief Legal Officer of Ripple, said: outlined Some key principles he believes the SEC must follow in 2025.
The company's head of legal affairs emphasized that the SEC's jurisdiction only lies in securities transactions.
Alderoti said the SEC cannot police simple asset sales.
“Selling a gold bar with a contractual right, title, or interest in my gold mine? Probably a securities transaction. Selling the same gold bar without any post-sale rights or obligations? Just an asset? “The SEC can't police that,” he said.
Aldeorty also criticized the theory that virtual currency tokens could evolve from securities to non-securities. He believes this is simply a hoax with “no legal basis”.
The SEC has sought to expand its jurisdiction by labeling crypto assets as securities, drawing harsh criticism from those in the crypto industry.
The Ripple CLO stressed that the SEC's scope cannot be expanded based on a “self-serving” view of who deserves more disclosure.
Cryptocurrency tokens can be subject to securities transactions, but cannot be classified as securities, Alderoti said.
The SEC's aggressive “regulation by enforcement” approach is widely expected to come to an abrupt end following the upcoming resignation of SEC Chairman Gary Gensler. Mr. Gensler's potential successor, Paul Atkins, is likely to take a friendlier approach.
related
however, Recent New York Post coverage This suggests that the SEC may not necessarily give the crypto industry a free pass next year.
Last month, Alderoti prompted The next SEC chairman will close all non-fraud crypto cases and work with Congress on clear rules regarding cryptocurrencies.
