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The chief lawyer of Ripple Lab warned that the lawsuit decision of the United States Securities and Exchange Commission (SEC) against the company would greatly endanger the future of American cryptocurrency.

In response to the Bloomberg News post on how the lawsuit will affect the jurisdiction of the regulatory region, Stuart Alderothy, general counsel and encryption expert scholar of Ripple, said that the viewpoint of the lawsuit will have an impact on the regulation of the US encryption assets.

"No matter how you analyze it, experts and scholars can accept that the conclusion of Ripple case may have a significant impact on the future development of cryptocurrency in the United States."

Alderothy is also committed to debunking the myth that famous figures in the encryption industry violate policies and regulations.

"There is a misunderstanding that the participants in the encryption area do not want to be supervised. I think the responsible participants in the encryption area actually expect supervision. The reason why they expect supervision is that supervision is helpful to their business processes, their customers and the industry, and the way to achieve supervision is based on very clear supervision.

Clear policies and regulations, consistent application, will lead to predictable results, and predictable results are beneficial to everyone. If you don't know what the laws and regulations require, you can't abide by the Constitution. The inconsistent use of laws and regulations has resulted in unpredictable results. "

Recently, Alderotti predicted that the SEC lawsuit would be completed in the form of benefiting Ripple in the first half of 2023. The SEC first filed a lawsuit against Ripple in December 2020, accusing the company of selling XRP as unregistered securities.

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