In a brief video titled “Crypto in a minute,” Ripple’s Chief Legal Officer, Stuart Alderoty, breaks down the significance of a recent legal development between Ripple Labs and the Securities and Exchange Commission (SEC). “So why did the SEC drop its appeal against Ripple?”. “I think the real question is, why did they bring the case at all?” he says.
In the newest Crypto In One Minute, Ripple’s Chief Legal Officer @s_alderoty explains why the SEC dropped its appeal against Ripple in March 2025, and where the US is going with smart crypto regulation on the horizon:
Protecting consumers
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— Ripple (@Ripple) May 2, 2025
Alderoty continues, “The SEC hasn’t just dropped its appeal against Ripple,” and “it’s now dropping every case against every crypto company in the United States.” He argues that the SEC has finally admitted what Ripple has been saying all along, that you can’t enforce the law without first clearly explaining what the law is. In the U.S., he adds, there has never been clear legislation, rules, or regulations surrounding crypto.
As highlighted in several updates from Crypto News Flash, the SEC began stepping back from its courtroom battles with crypto firms like Coinbase, Kraken, Uniswap, Robinhood, Gemini, and others. This was a shift in approach, away from an aggressive, lawsuit-heavy strategy and toward creating a formal regulatory regime for the industry.
He concludes with a call to action: “We’re cleaning up the mess, heading back into the courtroom, and getting back to business. Most importantly, we’re pushing forward, working with Congress to establish smart crypto regulation, regulation that protects consumers, preserves market integrity, keeps bad actors out, and allows innovation to flourish.”
A Timeline of Legal Shifts
This shift in tone from Ripple’s Chief Legal Officer comes on the heels of significant legal developments. As recently reported by CNF, the U.S. Court of Appeals for the Second Circuit approved a joint request from Ripple Labs and the SEC to put their ongoing appeal on hold for 60 days. The pause, which began on April 16, was designed to give both sides time to explore a potential settlement. A status update from the SEC is expected by June 15, 2025.
This follows the SEC’s decision back in March to officially withdraw its appeal of a key ruling that determined XRP is not a security when traded on public exchanges. But legal strategy isn’t the only thing changing, political winds have shifted too.
After Donald Trump won the 2024 presidential election against Kamala Harris, there was a leadership shake-up at the SEC. Mark Uyeda, a conservative commissioner, was elevated to acting chair. The agency, under his leadership, cut its crypto enforcement unit and started a crypto task force.
Hester Peirce, a longtime advocate for crypto innovation within the SEC, is now guiding that effort. Most recently, former commissioner Paul Atkins was appointed SEC Chair, officially replacing Gary Gensler, a move that the crypto space sees as a turning point for the agency’s future direction.
Meanwhile, XRP is trading at $2.20, reflecting a 0.28% increase over the past day but a 1.71% decrease over the past week. Trading volume has also dropped by 20.19%, settling at $1.85 billion.