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Ripple CLO Stuart Alderoty Outlines These 6 Guidelines For US SEC

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3 days ago

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Ripple’s Chief Legal Officer, Stuart Alderoty, outlined six key principles on New Year’s Eve, urging the US SEC to adopt a measured approach to crypto regulation. According to Alderoty, the SEC should only regulate securities transactions rather than expand its authority over asset sales without contractual rights or obligations.

Ripple CLO Shares 6 Guidelines for SEC Crypto Regulation in 2025

In a statement shared on social media, Ripple CLO Stuart Alderoty emphasized the limited jurisdiction of the US SEC. He stated that the regulatory body should only oversee security transactions. Simple asset sales, such as selling a gold bar without associated rights or obligations, fall outside the Securities and Exchange Commission purview.

Alderoty illustrated his point by contrasting two scenarios: selling a gold bar with contractual rights to a gold mine, which constitutes a security transaction, versus selling a gold bar without such conditions, which does not. This clarification asserts that the US Securities and Exchange Commission cannot regulate transactions that lack post-sale obligations.

Moreover, Alderoty rejected the idea that a cryptocurrency token can change its classification from a security to a non-security. He labeled this concept a theory without legal support. This notion, he argued, serves only to complicate cryptocurrency regulations.

Alderoty insisted, 

“Let’s hope these principles won’t need repeating in 2025 and beyond.”

The Ripple CLO also reiterated that while cryptocurrency tokens may be used in security transactions, they are not inherently securities. This distinction is crucial for the industry, as it challenges the SEC’s broader interpretation of its authority over digital assets.

Call for Collaboration Between US SEC and Congress

Alderoty urged the next SEC chair to adopt a collaborative approach with Congress. He recommended focusing on clear and transparent rules for the cryptocurrency industry. This call for cooperation aligns with Ripple’s position against the SEC’s enforcement actions.

In his statement, Alderoty also emphasized the need for the US Securities and Exchange Commission to address only fraud-related cases involving crypto. He criticized the regulator for expanding its jurisdiction based on subjective criteria, which he described as self-serving.

Moreso, recently, Ripple CLO Stuart Alderoty emphasized the urgency of ending the Ripple vs SEC lawsuit, labeling it a “lawless lawsuit”. Alderoty reiterated his call for the incoming Trump administration to address the controversies surrounding former SEC official William Hinman’s statements. The Ripple CLO claims that his statements caused regulatory confusion and undermined trust in the agency.

The six principles outlined by Alderoty reflect Ripple’s stance on fostering fair regulatory practices. With the incoming Donald Trump administration, the cryptocurrency industry anticipates a shift toward more cooperative regulatory practices.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Jesse Pollak Reveals Efforts To Tokenize Coinbase COIN On Base

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2 hours ago

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January 3, 2025

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Jesse Pollak, the core builder of the Coinbase Exchang-backed Ethereum layer-2 network Base has hinted at the plans for the tokenization of the firm’s COIN stock available on the protocol. He shared this vision in a post on X where he said “every asset in the world will be on Base.”

The COIN Tokenization on Base

According to Jesse Pollak, integrating COIN on Base is something the layer-2 developers are currently looking into. Amid conversations with community members, Pollak confirmed that despite the new tilt, there are no concrete plans regarding this tokenization for now.

The Base developer said the team are in an exploratory phase for now. The goal here remains to understand what the team needs to unlock from a regulatory standpoint that will enable COIN tokenization on Base. Considering the fragile nature of regulations in the United States, Pollak said the goal remains to launch COIN on the protocol “in a safe, compliance and future looking way.”

Despite the reservations, he confirmed that users can already access COIN on other protocols like BackedFi. However, the accessbility to BackFi is limited to non-US citizen. It remains crucial to secure regulatory clearance in order to unlock the product for all users as an open source platform.

In all, Jesse Pollak reassured community members that it is still day one, implying there is room for more plan refinement. The COIN launch on Base might help solidify the protocol’s rank as the biggest L2 on Ethereum after recently outshining Arbitrum.

Tokenization of Real World Assets: Who’s Leading the Pack 

Tokenization is a growing trend in the digital currency ecosystem with firms like Franklin Templeton and BlackRock taking the lead. While Franklin Templeton is one of the pioneered on Wall Street, BlackRock’s BUIDL money fund has continued to stir major milestone.

These asset managers are expanding their tokenized funds to protocols like Base Network for more reach.

BlackRock has continued to expand since its introduction last year. Lately, Frax Finance said its DAO has approved BUIDL as frxUSD reserve asset. This marks one of the major protocol expansion reported in the past few months.

Besides these firms, Ripple Labs is also getting into the tokenization game. Specifically, it has a partnership with Archax with growing reliance on RLUSD stablecoin and XRP Ledger as innovations to help drive growth in this niche.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Pro XRP Lawyer John Deaton Warns Users Against Crypto Scams

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6 hours ago

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January 3, 2025

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As the cryptocurrency market grows, so do the tactics of scammers aiming to exploit unsuspecting individuals. Pro XRP lawyer John Deaton has issued a stern warning about evolving crypto scams. Deaton urged users to exercise caution and vigilance in safeguarding their digital assets.

Crypto Scam Alert: John Deaton Warns Users Against Evolving Tactics

In a detailed post on social media, John Deaton highlighted the dangers of sophisticated crypto scams targeting new and experienced users. Deaton stressed the importance of never sharing sensitive information like seed phrases or passwords. These details act as the key to accessing a user’s crypto wallet and can lead to the complete loss of funds.

Deaton shared a personal story about a near-miss incident where scammers hijacked his home WiFi and attempted to trick him into revealing his login credentials. The attackers used fake emails and calls posing as customer support representatives. John Deaton described the moment as a critical learning experience. He emphasized that scammers often create a sense of urgency to manipulate their targets.

The Pro XRP Lawyer added, 

“What people need to understand is that, not only do the emails look official, but it creates a sense of urgency and fear. The email states that your funds are at risk and you need to take immediate steps to protect your funds or they could be lost forever.”

Amid the increasing wave of crypto scams, Pudgy Penguins NFT holders have become the latest target. Coingape recently reported that scammers are using deceptive Google ads to lure users to fake websites designed to steal wallet credentials. This incident highlights the growing sophistication of attacks in the Web3 space and the urgent need for heightened security measures.

Sophisticated YouTube Scams Target Crypto Enthusiasts

A recent cybersecurity report from Kaspersky uncovered a new scam involving the use of YouTube comments. Scammers post crypto wallet seed phrases, claiming to seek assistance in transferring funds. These comments appear under finance-related videos and often portray the scammers as naïve beginners.

When an unscrupulous individual attempts to access the wallet using the shared seed phrase, they find it contains cryptocurrency, often USDT. However, to withdraw these funds, a small fee in TRX tokens is required. Victims transferring TRX to the wallet for fees soon discover their tokens are automatically redirected to the scammer’s account.

Multi-Signature Wallets: The New Tool in Crypto Scams

The wallet used in these scams is typically a multi-signature wallet, which requires multiple approvals to authorize transactions. This setup makes it impossible for the would-be thief to move the funds, even after sending TRX for fees. Instead, their TRX tokens are immediately drained, leaving them empty-handed.

More so, John Deaton pointed out that these scams exploit human greed, turning opportunistic individuals into victims. He warned that such schemes are becoming increasingly common and urged users to remain vigilant.

John Deaton advised users to adopt robust security measures to protect their digital assets. He emphasized the importance of enabling two-factor authentication and verifying the authenticity of emails and links before clicking. Additionally, he reiterated the critical rule,

”NEVER share passwords or seed phrases.”

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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SHIB Burn Rate Soars 1500% As Shiba Inu Price Eyes Rally To $0.001

Published

17 hours ago

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January 3, 2025

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The renowned dog-themed meme token Shiba Inu captured noteworthy market attention on Friday, witnessing a remarkable surge in the SHIB burn rate. Notably, intraday burn statistics flagged a whopping 1500% uptick, primarily against the backdrop of over 30 million tokens destroyed. In turn, crypto market participants are now speculating whether Shiba Inu price could hit a $0.001 target this month.

SHIB Burn Rate Shoots Up 1500% Echoing Market Optimism

As per a recent X post by the community’s official tracker Shibburn, the SHIB burn rate was up 1550%, underscoring a massive hit to the circulating supply. Per the data shared, 33.01 million coins were burnt in the past 24 hours, aiding the burn rate uptick.

For context, the Shiba Inu token burn mechanism primarily focuses on permanently reducing the asset’s circulating supply. As a result, market participants anticipate a bullish impact on the top meme coin’s future movements, aligning with the law of supply and demand.

Simultaneously, weekly burn statistics indicated that 44.03 million tokens were taken out of the supply, adding to market optimism surrounding the asset. Also, recent ecosystem developments have further aided the leading dog-themed meme coin in retaining its bullish stance across the market.

CoinGape reported that the crypto’s lead developer, Shytoshi Kusama, recently confirmed the TREAT token launch. This chronicle, expected to support the broader ecosystem substantially, remains much awaited in the market. Simultaneously, the Shiba Inu price also remains extensively eyed by market watchers in anticipation of considerable gains in 2025, primarily in the wake of community advancements and constant SHIB burns.

Price To Hit $0.001 This Month?

SHIB price today showcased gains worth 2% intraday and is currently resting at $0.00002264. The meme coin’s 24-hour low and high were $0.00002198 and $0.00002294, respectively. Notably, the rising price trajectory aligns with the remarkable surge in the SHIB burn rate, as mentioned above.

Moreover, a recent Shiba Inu price analysis by CoinGape further rationalized a $0.001 price target for the token, looming for this month. Breaking through the critical resistance level of $0.000025 remains highly pivotal for the crypto. Besides, the broader ecosystem developments and rising adoption of Shibarium have further weighed the scales towards the bullish side of the coin. As the supply continues to shred in the interim, a $0.001 price target appears to be scalable ahead, as market experts also expect a bull cycle continuation in 2025.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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