Ripple CLO: ‘Crypto industry needs to learn ‘fair notice’ defense’
CryptoNewsTerminal Staff13 Sep, 2024
Ripple CLO: ‘Crypto industry needs to learn ‘fair notice’ defense’
Ripple (XRP) Chief Legal Officer (CLO) Stuart Alderoty stated on his X (formerly Twitter) account that "the Ripple and SEC case is over, but the industry needs to learn the 'fair notice' defense." He further noted, "When the SEC sued Ripple, it cited the '2017 DAO' case as authority that 'crypto asset securities' are subject to the securities laws. They then apologized to a 'sophisticated' federal judge for misleading the court with an undefined term that they made up seven years later." He has previously emphasized that the SEC should cease using the term '"crypto asset securities." No statute defines such a term, and it is not a legal term.
