Ripple Faces Concerns
Ripple is currently facing significant concerns regarding the potential candidate for the SEC Chairman position, Robert Stebbins. CEO Brad Garlinghouse described the appointment of Stebbins as “unconscionable” due to his involvement in previously controversial decisions, such as William Hinman’s speech about Ethereum.Regulatory Concerns
Ripple’s chief legal officer, Stuart Alderoty, also agrees that Stebbins will bring about a rigid regulatory era similar to that of Jay Clayton. Stebbins has approved around 80 legal actions related to cryptocurrencies and is believed to continue “favoritism” in regulations.Other Potential Candidates
This has led many in the industry, including crypto lawyer John Deaton, to compare him to “Clayton 2.0”. Indicating that the industry needs new light, Dan Gallagher, Robinhood’s chief legal officer, is emerging as a top candidate for the position with the ability to reform regulations to foster innovation in the crypto space.