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

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.
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.
It’s great when crypto uses its collective voice through calls, letters, emails to Congress, but if crypto doesn’t VOTE it all just becomes noise. Politicians on both sides of the aisle must understand that votes are on the line.
— Stuart Alderoty (@s_alderoty) June 7, 2024
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.”
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
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump
- Is This Final Bitcoin Price Correction Before US Shutdown Ends, Fed Rate Cuts?
- Blockchain for Good Alliance and UNDP AltFinLab Launch Blockchain Impact Forum
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes