2024

Terra

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Stuart Alderoty, the chief legal officer of Ripple, has <a href="https://twitter.com/s_alderoty/status/1740771467841728734">weighed</a> in on the recent ruling in the Terraform Labs case in a social media post. &nbsp;
Alderoty refrained from taking a definitive stance on the Terraform case but underscored three pivotal aspects of the court's decision.&nbsp;
He stressed the paramount importance of factual basis in legal judgments, noted the lack of criticism or reference to a similar Ripple case by Judge Jed Rakoff, and critiqued the SEC's ongoing strategy of addressing cryptocurrency regulation through prolonged, token-by-token litigation.&nbsp;
The lawyer views such a strategy as a misguided effort driven more by a quest for political power than by sound policy.
<h2 id="sec-scores-a-win">SEC scores a win&nbsp;</h2>
As <a href="https://u.today/sec-scores-victory-in-terra-case">reported by U.Today</a>, Judge Rakoff has ruled in favor of the SEC in its case against Terraform Labs.&nbsp;
The court declared Terraform Labs' digital assets, including UST, as unregistered securities after applying the Howey Test.
This decision marks a notable victory for the SEC, but it is unlikely to further clarify the regulatory landscape for digital assets.&nbsp;
<h2 id="sec-s-diminishing-influence">SEC's diminishing influence?&nbsp;</h2>
Alderoty's recent comments signal a shift in the cryptocurrency industry's perception of the SEC's authority.
As reported by U.Today, the top lawyer recently <a href="https://u.today/top-ripple-lawyer-says-sec-no-longer-scares-the-industry">opined</a> that the industry is becoming increasingly resilient to the SEC's legal threats despite the agency's ongoing efforts to regulate the sector.&nbsp;
This observation comes as the crypto world enters 2024 while facing prolonged legal battles and regulatory uncertainties.&nbsp;
The SEC's extended campaign against major crypto players, including Ripple, is very likely to continue.&nbsp;

Ripple's Top Lawyer Weighs In on Terra Decision

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