ChainCatcher news, Ripple's Chief Legal Officer Stuart Alderoty posted on social platform X, calling on the U.S. Congress to establish a regulatory framework for cryptocurrencies that supports innovation. He emphasized that regulation should focus on behavior rather than the technology itself, and suggested adopting a framework familiar to regulators and judges, avoiding the incorporation of abstract policy principles from previous administrations into law without thorough research.SEC Commissioner Mark Uyeda recently also publicly criticized the SEC's tough enforcement stance, arguing that it is inappropriate to take enforcement action solely for being unregistered. The industry anticipates that the Trump administration may appoint cryptocurrency supporter Paul Atkins to a regulatory position, signaling a more friendly regulatory environment.

ChainCatcher news, previously, cryptocurrency supporter and U.S. Representative from Arkansas, French Hill, defeated three other competitors to win the position of Chairman of the Financial Services Committee.Hill currently serves as the Vice Chairman of the committee and heads the subcommittee on Digital Assets, Financial Technology, and Inclusion. He emphasized that he is very grateful for the opportunity to serve as the chairman of the committee.Outgoing Chairman Patrick McHenry praised Hill's leadership skills, particularly his expertise in financial technology and innovation. McHenry stated, "French's experience in the private sector, the Treasury Department, and as Vice Chairman has prepared him well for this role." He emphasized, "Under French Hill's leadership, the Republicans will ultimately establish a clear regulatory framework and strong consumer protections for the digital asset ecosystem based on this Congress." McHenry also highlighted Hill's contributions to advancing key legislation, including the Financial Innovation and Technology for the 21st Century Act (FIT21). Hill's appointment has garnered support from leaders in the cryptocurrency industry and lawmakers. Former Acting Comptroller of the Currency and former Chief Legal Officer of cryptocurrency exchange Coinbase, Brian Brooks, praised Hill's "intellect, growth mindset, and innovative outlook."

ChainCatcher news, regarding BiT Global suing Coinbase for $1 billion, accusing it of market manipulation by delisting WBTC. Coinbase's Chief Legal Officer posted on X: "When an asset no longer meets our listing standards, we will drop it. When another asset can meet or exceed market demands without sacrificing those standards, we will list it."

ChainCatcher news, Ripple's Chief Legal Officer Stuart Alderoty stated that he agrees that SEC Commissioner Caroline Crenshaw is more challenging in the crypto space than SEC Chairman Gensler. This is because even after a court ruling deemed the blocking of a Bitcoin spot ETF as "arbitrary and capricious," Gensler backed down, while Caroline Crenshaw insisted on dissenting, believing the court's ruling was incorrect.Previously, it was reported that crypto skeptic Caroline Crenshaw is seeking reappointment as an SEC commissioner, and there are concerns within the industry about her chances of reappointment.

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal posted on X: "Just days before the Fifth Circuit Court ruled that the OFAC sanctions on the code were illegal, some in Congress raised a series of questions about how the code was being used despite the sanctions. Now they will turn around and ask an obvious question: How many Americans can legally use Tornado Cash but are deprived of their privacy rights because their own government is violating the law?"Previous news, the U.S. Fifth Circuit Court ruled that the Treasury's sanctions on the Tornado Cash smart contract were illegal.

ChainCatcher news, according to Bitcoin.com, Ripple's Chief Legal Officer Stuart Alderoty emphasized that he believes U.S. regulators have meticulously planned to stifle the cryptocurrency industry. In recent years, the cryptocurrency industry has faced significant challenges, which the industry refers to as "Operation Chokepoint 2.0," a coordinated effort by U.S. regulators to restrict banking services related to cryptocurrency businesses.Alderoty recently shared his views on Operation Chokepoint 2.0 on the social media platform X, mentioning a 2012 initiative where, reportedly, the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve, and the Office of the Comptroller of the Currency (OCC) pressured banks to stop providing services to certain industries.Alderoty believes that cryptocurrency has now become the main focus of similar strategies, noting: "In 2012, regulators (FDIC, OCC, Federal Reserve) used banks as a weapon against unpopular industries (gun shops, payday lenders, etc.) under the initial 'Operation Chokepoint.' Fast forward to 2021: cryptocurrency is the new target."

ChainCatcher news, according to market news, Robinhood's Chief Legal Officer Dan Gallagher stated that he will not serve as the chairman of the U.S. Securities and Exchange Commission.

ChainCatcher news, November 7, Coinbase Chief Legal Officer Paul Grewal recently stated that significant changes are expected in the SEC's cryptocurrency-related cases under the leadership of the new Trump-nominated SEC chairman. Grewal revealed to reporters, "I believe the new administration will re-examine all cryptocurrency cases brought during Gary Gensler's tenure, distinguishing between clear fraud cases and non-fraud cases."Although Grewal did not explicitly state that the cases against Coinbase and other companies under investigation for alleged securities violations would be dismissed, he seemed optimistic that the changes in SEC leadership and the establishment of clear rules would lead to a new review.

ChainCatcher news, according to Cointelegraph, after Trump's victory, Coinbase Chief Legal Officer Paul Grewal urged the SEC to reform, stating that he hopes the SEC can adopt a regulatory framework that favors open dialogue and innovation rather than litigation. This reflects the growing sentiment among cryptocurrency advocates, as the crypto community becomes increasingly frustrated with the overreach of U.S. regulators.

ChainCatcher news, according to DL News, Coinbase Chief Legal Officer Paul Grewal accused the Federal Deposit Insurance Corporation (FDIC) of taking secret actions to suppress the crypto industry.Grewal claimed that documents obtained through the Freedom of Information Act revealed a series of so-called "pause letters."It is alleged that in these letters, the FDIC instructed banks to delay or stop providing services to crypto companies.He described these letters as "a shameful example of a U.S. government agency attempting to cut off the financial channels of law-abiding American companies," and pointed out that the FDIC is unfairly targeting legitimate crypto companies, limiting their access to banking services.Documents shared by Coinbase show that FDIC officials urged banks to avoid launching or expanding crypto-related services due to concerns about "safety and soundness" as well as potential consumer risks.In every case, the FDIC requested that banks wait until it completed further review—Coinbase believes this process sets unfair barriers for crypto companies.

ChainCatcher news, according to Bitcoin.com, Ripple's Chief Legal Officer Stuart Alderoty recently stated when the SEC officially appealed the Ripple case in the U.S. that the ruling confirming that XRP is not a security for retail sales remains unchanged.He wrote on X: "This is not surprising at all------ once again, everything is clear. The court's ruling that 'XRP is not a security' has not been appealed. This decision is the law of the land." In the appeal, the SEC questioned several key rulings, including the decision that Ripple executives Brad Garlinghouse and Chris Larsen's non-cash distribution and sale of XRP did not violate securities laws.Ripple plans to submit its Form C next week as a cross-appeal against the institutional sales ruling. Both parties are preparing to extend the appeal process, which could impact the classification and regulation of digital assets in the future.

ChainCatcher news, Ripple Labs Chief Legal Officer Stuart Alderoty stated that as the U.S. SEC prepares to appeal the federal judge's decision regarding XRP, the agency is set to face another defeat.In an interview, he said, "This will backfire on the SEC. I feel good about our case in the Southern District of New York, and even better about the case in the Second Circuit."Alderoty mentioned that when the U.S. SEC first sued Ripple and its two executives in 2020, the company publicly announced that its legal battle was "on behalf of the entire industry." He added that this move indicated the SEC "would take action against the entire industry."In August of this year, Judge Torres ordered Ripple to pay a $125 million fine for XRP transactions that violated securities laws. The SEC had previously claimed that Ripple raised $1.3 billion through unregistered securities offerings since 2013 and later sought a $2 billion fine against it. While Ripple appreciated Judge Torres's ruling, which stated that XRP "is not necessarily a security on its face," there were also judges who disagreed.The SEC has not indicated which parts of the Torres ruling it plans to appeal, while Ripple has also taken its own legal actions.

ChainCatcher news, according to POLITICO, a dozen former senior regulators, lobbyists, and securities lawyers have indicated that if Donald Trump regains the presidency, Robinhood's Chief Legal Officer Dan Gallagher would be a candidate for chairman of the U.S. Securities and Exchange Commission (SEC). It is currently unclear whether Gallagher wants to leave Robinhood. Gallagher has stated that he loves his job and that "I am honored to be mentioned in discussions about who will be the next SEC chairman." However, there is no doubt that Gallagher has significant disagreements with the direction of the SEC. He mentioned that if he had served as chairman over the past few years, there would have long been tailored rules, as the industry has long sought, providing "at least a basic registration system pathway" for cryptocurrency exchanges and brokers. Even so, Gallagher believes that legislation is still needed.Gallagher previously served as a commissioner of the SEC, known for his affability and political skills. Other potential candidates for SEC chairman circulating on Wall Street under the Trump administration include former Commodity Futures Trading Commission chairman Chris Giancarlo, former SEC General Counsel Robert Stebbins, current partner at Willkie Farr & Gallagher law firm, and current SEC commissioner Hester Peirce. However, reports suggest that for some Republicans, whether Gallagher can become chairman has always been a matter of when, not if.

ChainCatcher news, Ripple's Chief Legal Officer Stuart Alderoty posted on social media stating, "The U.S. Securities and Exchange Commission (SEC) decision to appeal is disappointing but not surprising. This is just prolonging a situation that has already embarrassed the agency. The court has dismissed the SEC's suggestion of Ripple's reckless behavior, and there are no fraud allegations in the case, certainly no victims or losses.Under the leadership of current Chairman Gary Gensler, the SEC has not faithfully executed the law but continues to wage a lawsuit war against the crypto industry. We are evaluating whether to file a counterclaim. In any case, the SEC's lawsuit has been irrational and misleading from the start, and we are ready to prove this again in the appellate court (leading the industry once more).The SEC's enforcement director announced their resignation about an hour before this news was released; is this a coincidence?"

ChainCatcher news, Coinbase Chief Legal Officer Paulgrewal.eth posted on X that, according to data from the Federal Reserve Bank of Philadelphia, at least 17.1% of Americans owned cryptocurrency in 2023.

ChainCatcher news, according to Cointelegraph, Coinbase's Chief Legal Officer Paul Grewal responded to the recent FUD surrounding the user service terms of Coinbase's newly launched "Bitcoin Wrapped" product cbBTC, confirming that if the exchange loses the underlying Bitcoin, Coinbase will fully compensate customers. This clarification came after concerns were raised about a troubling clause in the cbBTC user agreement, which stated that if Bitcoin is lost due to malicious activity or unforeseen events, Coinbase would not fully compensate customers but would allocate compensation based on the remaining Bitcoin.In his statement, Paul Grewal confirmed that this policy limits the exchange's liability for external losses incurred due to complex trades and leveraged positions that customers may enter. For example, if a trader uses cbBTC as collateral on a lending platform and loses the underlying Bitcoin due to malicious activity leading to liquidation, Coinbase will fully compensate the lost Bitcoin but will not cover any costs or monetary losses incurred from the loan liquidation itself.

ChainCatcher news, Fox reporter Eleanor Terrett revealed that former SEC commissioner and current Robinhood Chief Legal Officer Dan Gallagher detailed the efforts Robinhood made to register—"a dozen meetings and phone calls over a year and a half," but ultimately still received a Wells notice from the enforcement agency.Gallagher criticized the SEC's "scorched earth" approach to cryptocurrency and suggested that the commission take immediate action to provide clarity for the industry. He pointed out that although Congress is advancing much-needed legislation, the SEC has had the authority to establish a foundational regulatory framework for digital assets since 1996.

ChainCatcher news, regarding Coinbase Chief Legal Officer Paul Grewal's post on platform X disclosing that the SEC previously made misleading statements about the classification of tokens, specifically noted in footnote 6 of Binance's amended complaint that "the SEC regrets any confusion it may have caused," referring to the SEC's earlier erroneous declaration that the tokens themselves are securities.Ripple Chief Legal Officer Stuart Alderoty responded that the SEC's actions actually acknowledge two points: first, that "crypto asset securities" is a fictional term; second, that to prove crypto assets are investment contracts, the SEC needs a series of evidence regarding "contracts, expectations, and understandings." He also stated that the SEC has indeed fallen into a contradictory predicament.

ChainCatcher news, Coinbase's Chief Legal Officer Paul Grewal stated on the X platform that a U.S. judge has ruled on the motion to compel between Coinbase and the U.S. Securities and Exchange Commission (SEC), ordering the SEC to disclose key information that is crucial for the defense in the case. Paul Grewal mentioned that he will share the complete trial record once it is obtained, and he expressed gratitude to the court for its careful consideration of the matter.Previous news, Coinbase filed an objection on August 12 against the SEC's proposal to expand the definition of trading platforms, stating that the SEC's proposal lacks critical analysis, is based on unreasonable assumptions, fails to demonstrate any regulatory issues that need to be addressed, and greatly exaggerates the benefits claimed by the proposal.

ChainCatcher news, according to DL News, Coinbase Chief Legal Officer Paul Grewal stated in an interview with Bloomberg on Tuesday that regardless of individual campaign results, and certainly the presidential campaign results, we will see a Congress that supports cryptocurrency. Currently, bipartisan support for cryptocurrency-friendly legislation on Capitol Hill is increasing.