Ripple’s CLO Stresses Crucial Crypto Vote Ahead of US Polls

David Pokima
June 7, 2024
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Clear US Crypto Rules Will Boost Ripple's Market Lead, Stuart Alderoty Claims

Highlights

  • Stuart Alderoty rallied crypto voters ahead of the U.S. elections.
  • The Ripple executive noted that without actual votes, efforts will be characterized as noise.
  • This comes after President Biden vetoed Congress's moves to overturn SAB 121.

Ripple’s Chief Legal Officer Stuart Alderoty restated the importance of crypto votes ahead of the upcoming United States Presidential election. Crypto assets and associated regulations have become a major issue ahead of the elections with many candidates making statements pointing to clearer policies. US legislators also marked a shift seen in the recent bipartisan efforts.

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Ripple’s CLO Rallies Crypto Vote

Ripple’s CLO Alderoty hailed the recent pressure placed on Congress but added that crypto enthusiasts voting in mass in the November polls is necessary. In a June 7 post on X (formerly Twitter), Alderoty wrote that without the crypto vote, other efforts like calls, letters, and emails to lawmakers will be categorized as noise. 

This statement ignited a positive reaction from the crypto community as users expressed similar sentiments. Most crypto-asset users have pledged to back candidates with friendly policies to see the sectors thrive. This year, donations to crypto PACs tapped $100 million with huge contributions from industry executives. Firms like Coinbase have committed to regulatory clarity and made donations to the Super PACs to advance the sector’s cause in the upcoming elections. 

The heat of pro-crypto legislation has been felt in Congress with lawmakers working towards bipartisan efforts to usher in market clarity. Pro-Biden lawmakers, Rep Ro Khanna recently rallied behind the FIT21 legislation calling on the White House to support the bill. 

“…the concerns that the Administration has been too negative on blockchain. Speaker Pelosi and I supported Patrick McHenry’s recent bill to provide regulatory clarity I think it will be helpful if the White House gets behind that.” 

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Crypto Sees Regulatory Pathway

Despite recent headwinds, the crypto market has taken giant steps this year ahead of the US elections. In recent years, the industry lamented the lack of rule clarity and the approach of the Securities and Exchange Commission (SEC). Last month, lawmakers voted to overturn the SEC’s SAB 121 although it was vetoed by President Biden. Meanwhile, the House passed the FIT21 legislation. Market participants have called on the Senate to support the bill to create clearer guidelines. 

Also Read: zkSync Era v24 Upgrade Goes Live on Mainnet

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.