2024

Bitcoin

Impact

<p>The post <a href="https://coinpedia.org/news/the-ripple-effect-stewarts-sec-exit-and-its-impact-on-crypto-regulation/">Is the SEC Losing Grip? Leader Exits Spark Concerns About Future of Crypto Regulation</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Who could have seen this coming?!</p> 
<p>In a surprising twist, lawyers are making strategic moves, swapping sides between the <a href="https://coinpedia.org/news/kraken-seeks-dismissal-of-sec-lawsuit-cites-concerns-of-regulatory-overreach/">Securities and Exchange Commission (SEC)</a> and private law firms. <a href="https://coinpedia.org/news/sec-in-the-spotlight-ripple-executives-challenge-genslers-leadership-and-direction/">Coinpedia</a> recently disclosed the covert submission of resumes by attorneys to various US law firms, igniting speculation about the SEC’s internal dynamics.</p> 
<p> Notably, SEC lawyers disclosing Commissioner Gensler’s position before a potential exodus has raised concerns about the agency’s direction under his leadership.</p> 
<h2 class="wp-block-heading" id="h-losing-top-talent">Losing Top Talent </h2> 
<p>Ladan Stewart, a prominent figure in the SEC’s crypto unit, has left the agency to join <a href="https://coinpedia.org/news/ripple-and-coinbase-legal-drama-intensifies-with-departure-of-secs-lead-lawyer/">White &amp; Case</a>, a law firm renowned for its pro-crypto stance. This move has stirred the crypto community, sparking debates about the potential ramifications.</p> 
<p>CryptoLaw and MartyParty, well-known figures in the crypto space, expressed surprise at Stewart’s departure from the SEC. Their tweets suggest that her transition to a private law firm supportive of cryptocurrencies might signify a significant shift in the legal dynamics surrounding crypto regulation.</p> 
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   <p lang="en" dir="ltr">The top <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> anti-crypto attorney who played a role in many of the Commission's disastrous motions and hearings in the <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> case (remember the "attorney client privilege" argument to hide the Hinman documents??) has defected to a Wall Street law firm. Now says: "Crypto is… <a href="https://t.co/ZUOtSBe4EH">https://t.co/ZUOtSBe4EH</a></p>— CryptoLaw (@CryptoLawUS) <a href="https://twitter.com/CryptoLawUS/status/1760413589683253591?ref_src=twsrc%5Etfw">February 21, 2024</a>
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<p>Also Read: <a href="https://coinpedia.org/news/ripple-and-coinbase-legal-drama-intensifies-with-departure-of-secs-lead-lawyer/">Ripple and Coinbase Get a Boost? Top SEC Lawyer Switches Sides, Joins White &amp; Case</a></p> 
<h2 class="wp-block-heading" id="h-understanding-the-aftermath">Understanding the Aftermath </h2> 
<p>With Stewart playing a pivotal role in the SEC, overseeing high-profile cases such as the lawsuit against Coinbase and the legal battle with Ripple, her departure raises questions about the agency’s future direction. The industry is wondering – is this the downfall of the SEC?</p> 
<p>Stewart’s decision to join White &amp; Case, known for its robust white-collar defense group, underscores her commitment to the crypto and cyber defense space. She asserted that “crypto is here to stay,” citing the rising popularity of Bitcoin exchange-traded funds and the persistent legal ambiguities surrounding cryptocurrency.</p> 
<p>Did You Know? <a href="https://coinpedia.org/news/breaking-ripple-vs-sec-case-may-end-in-april-says-crypto-analyst/">BREAKING: Analyst Predicts Ripple Vs SEC Case May End in April</a></p> 
<h2 class="wp-block-heading" id="h-is-this-a-turning-point-for-crypto">Is This a Turning Point for Crypto?</h2> 
<p>In addition to Stewart, White &amp; Case welcomed John Cahill, a seasoned corporate real estate lawyer, further bolstering its legal team. These hires reflect the firm’s commitment to expanding its capabilities in key practice areas, including crypto and corporate law.</p> 
<p>Stewart’s departure from the SEC and her move to White &amp; Case mark a noteworthy development in the evolving relationship between regulators and the crypto industry. The industry observes keenly, anticipating how her transition will influence future regulatory decisions and legal proceedings concerning cryptocurrency.</p> 
<p><strong>The SEC’s loss is the crypto industry’s gain. Agree or disagree?</strong></p>

Is the SEC Losing Grip? Leader Exits Spark Concerns About Future of Crypto Regulation

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