US SEC Lead Behind Ripple & Coinbase Suit Joins Crypto

Ladan Stewart, a prominent figure in the Securities and Exchange Commission (SEC) known for her involvement in significant legal battles with the cryptocurrency industry, has transitioned to a new role in the private sector. Stewart, who has dedicated eight years to the SEC’s enforcement division, recently took on a position at White & Case, a leading law firm. This move marks a significant shift in Stewart’s career, where she previously led the SEC’s crypto and cyber litigation unit since September 2022. Her tenure at the SEC was notable for overseeing critical actions against major players in the cryptocurrency space, including a lawsuit against Coinbase Global Inc.

During her time at the SEC, Stewart was at the forefront of the agency’s efforts to regulate the crypto industry, participating in high-profile cases such as the legal dispute with Ripple over the classification of its XRP token. This case, in particular, drew widespread attention after a New York federal judge ruled in favor of Ripple, a decision the SEC has since appealed. Stewart’s move to White & Case as a partner in the firm’s white-collar defense group signifies a strategic shift, with plans to develop a specialized practice focusing on crypto and cyber defense.

Ripple and Coinbase Litigations

Ladan Stewarts’ headship of the cryptocurrency and cyber-litigation section in SEC introduced her into the limelight, and it was more evident with the suit against Coinbase Global Inc. for running without appropriate registration. Her lack of involvement in the matters further confirms the SEC’s move under the Biden administration to characterize the majority of digital tokens as securities, thus, regulating them. The case involving Ripple and its XPR token is also a perfect illustration of the complexities of regulating digital currencies, which is a sector that changes fast

In the case of Ripple specifically, the judge’s ruling has sparked much debate in the industry over cryptocurrency regulation, and Ripple’s argument gained a lot of supporters. Although the SEC’s decision to make an appeal highlights the existing controversy on the classification and regulation of digital tokens, the SEC has revealed that it still wants to maintain the debate. The appearances of Stewart at these landmark cases will change her work at the White and Case Law Firm, where she will be able to solve the complex legal issues regarding cryptocurrencies.

Transition to White and Case and Industry Implications

White & Case, one of the largest American law firms, appointed Stewart to its New York office and emphasized her vast experience as the industry faces more challenging government regulations, which has recently been seen in the crypto space. One of the strengths of this firm is its global footprint, with 2600 lawyers in 40 offices, which positions it to serve major clients across many sectors. The new hire of Stewart is a vital part of a broader vision of the firm which seeks to strengthen its readiness in countering white-collar and crypto-related legal problems.

Stewart’s relocation marks a gradual shift towards a new trend where regulatory officials become a part of the private sector, boasting profound skills in dealing with the regulatory domain of the cryptocurrency industry. White and Case’s crypto and cyber defense practice development demonstrates the firm’s resolve to alleviate the legal needs of a sector experiencing ever-escalating regulatory burdens. The more the crypto world develops, the greater the role of people like Stuart in creating the legal systems that will define the platform, which is fast becoming attractive and controversial.

Read Also: Ether (ETH) to outperform Bitcoin (BTC) in Coming Months: Bloomberg

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Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.

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