SEC vs. Yellen: Ripple Lawyer Stuart Alderoty Raises the Heat with Allegations on February 7

Crypto News – Top Ripple attorney Stuart Alderoty used X to draw attention to disparate remarks made by Treasury Secretary Janet Yellen and the Securities and Exchange Commission (SEC). This gave rise to a new direction in the conversation around cryptocurrency regulation. 

SEC vs. Yellen: Ripple Lawyer Stuart Alderoty Raises the Heat with Allegations on February 7

The SEC asserted its control over the cryptocurrency market and described it as a “rounding error” in the overall structure of the world’s capital markets in a recent court case involving Coinbase. On the other hand, only one day earlier, Yellen pleaded with Congress to pass new legislation to close the regulatory loopholes in the cryptocurrency space.

Yellen has identified a major regulatory gap, highlighting, in particular, the requirement for clear legislative frameworks to regulate the spot market for the non-securities digital asset classes. One such attempt at legislation, the Financial Innovation and Technology Act, seeks to improve consumer safety and market integrity by giving federal regulators clear control over digital asset exchanges.