   
Stuart Alderoty, Ripple Labs’ chief legal officer, has strongly criticized the U.S. Securities and Exchange Commission’s (SEC) ongoing legal actions against the cryptocurrency industry.
Alderothy’s remarks follow reflections marking one year since Judge Analisa Torres’ pivotal decision in the case SEC vs. Ripple Lawsuitwhich determined that Ripple’s XRP token is not a security.
“Some thoughts as we approach the one-year anniversary of Judge Torres’ decision in SEC v. Ripple… it was a watershed moment to see that in law, a token—in this case, XRP—in and of itself, is not a security.“Alderoty tweeted SATURDAY.
He further stressed that this decision not only vindicated Ripple but also set a precedent that has reverberated across similar cases, including the recent scrutiny that Binance faced.
The lawyer went on to criticize the SEC’s “gross overreach” and failure to enforce legal standards under Chairman Gary Gensler. He emphasized the role of the judiciary in reining in the SEC’s aggressive stance, though he expressed frustration with the protracted legal battles seeking to clarify each token, calling them unacceptable.
 “The SEC’s continued efforts to embroil Ripple and the broader industry in litigation are futile,” Alderothy said, echoing thoughts by Ripple CEO Brad Garlinghouse.
He went on to suggest that policymakers across both political spectrums are growing impatient with the lack of legislative progress on cryptocurrency regulation, noting that the United States lags behind its global counterparts in promoting regulatory certainty.
Despite the ongoing proceedings regarding the appeals in their case, Alderothy expressed confidence in the court’s final position that XRP This is not a security, a position the SEC itself acknowledged in court. He urged stakeholders not to be distracted by the SEC’s tactics, predicting that time is running out for the agency to maintain its aggressive litigation strategy.
“Don’t be distracted by the SEC’s continued efforts to bog Ripple and the industry down in the litigation trenches – that runway is running out for the SEC. Ripple and the entire industry are stronger for it, and will be stronger long after Chairman Gensler is gone.” He added.
The SEC’s pursuit of Ripple has been notably controversial, most notably in March 2024, when the agency requested to impose significant fines amounting to $2 billion in March. This request, however, was contested by Ripple, which argued for a reduced penalty of $10 million.
That said, while the parties have yet to agree on a settlement date, there is speculation that it could come sooner than expected, with Ripple already having won numerous lawsuits and the prospects of an SEC appeal being low.