Ripple CLO Hails Senate Vote to Overturn SEC’s Anti-Crypto Rule

The US Senate has voted to overturn a controversial rule proposed by the Securities and Exchange Commission (SEC), which could have posed a substantial threat to custodial services for cryptocurrencies in regulated banking institutions. Stuart Alderoty, the Chief Legal Officer (CLO) at Ripple, commended this move, highlighting it as a major victory against what he termed the “unauthorized overreach” of SEC Chair Gary Gensler.

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