Ripple's Chief Legal Officer, Stuart Aldoroty, has recently expressed his concerns over the lack of sufficient cryptocurrency regulations in the U.S. Speaking in an interview on Thursday, Aldoroty emphasized the need for a comprehensive regulatory framework, akin to those in place in the European Union, Australia, Japan, and Brazil.
This comes following Ripple's ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) over the XRP token, which is primarily used for seamless cross-border payments. Aldoroty highlighted the July 13 judgment that classified XRP as a non-security in secondary sales, a significant detail he pointed out during his interview.
Despite this landmark judgment, Aldoroty insisted on the necessity of broader regulations rather than engaging in individual token court fights. He voiced concerns that achieving such regulatory clarity in the U.S. might take years, prompting Ripple to conduct most of its business offshore for now.
However, Ripple remains optimistic about its future in the U.S. market. Aldoroty indicated that Ripple aims to fully penetrate the U.S. market once clear regulatory guidelines are established. This underscores Ripple's commitment to compliance and its eagerness to operate within a well-defined legal framework.
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