Ripple’s proposal to reform SEC: Stuart Alderoty, Ripple’s Chief Legal Officer, has presented a series of bold proposals to reform the United States Securities and Exchange Commission (SEC). He urged the new SEC leadership to restore its strained relationship with the cryptocurrency industry by clarifying legal regulations.

Halt non-fraud litigation: Alderoty calls for ending all cryptocurrency-related lawsuits that are non-fraudulent, aiming to end the long legal battle between the SEC and Ripple over the classification of XRP as a security. This is a significant move to protect businesses in the sector.

Importance of balanced leadership: Alderoty highlights the need for balanced leadership at the SEC. He suggests that commissioners like Hester Peirce and Mark Uyeda, who have criticized the SEC’s strategy towards cryptocurrencies, should continue their roles to ensure a more balanced approach.

Create clear rules for cryptocurrencies: Alderoty urges the SEC to work with Congress and financial regulatory bodies to create clear and simple rules for cryptocurrencies. He emphasizes that this will help the industry grow more stably and safely, avoiding confusion in complying with current laws.