Ripple CLO praises Singapore’s regulatory framework amid US SEC turmoil

Ripple’s chief Lego officer Stuart Alderotti has taken to Twitter to praise the “viable” framework created by the Monetary Authority of Singapore.

His comments come amid regulatory turmoil in the US as Ripple, Coinbase, Binance and other crypto-related companies face lawsuits against the country’s Securities and Exchange Commission.

• stuart alderotti Praised Thank you to Singapore for being able to create “a workable framework that truly unites consumer protection, market integrity and innovation.”

They have also outlined a clear taxonomy to classify and regulate digital assets – making it possible for companies like Ripple to create and offer tailored products.

• His comments come days after Ripple received a Singapore payments license in principle.
• It is also worth noting that Ripple is in the midst of a legal battle with the US Securities and Exchange Commission.
• The latter has alleged that the company made unregistered sales of securities, essentially claiming that XRP falls within the definition and putting enormous pressure on the firm.
• Alderotti’s last comment is also in line with this:

It’s been said many times, but bears repeating – regulatory clarity will only help drive crypto utility in real-world use cases.