Ripple Chief Legal Officer Stuart Alderoty believes the recent resolution of anti-money laundering violations by Binance via a settlement with the U.S. Department of Justice (DOJ) is a significant step towards aligning the crypto industry with essential legal and safety standards.
Alderoty noted in a series of tweets that major banks have previously undergone similar regulatory processes in their lifetime.
He also highlighted that there was no mention of “crypto securities” or the SEC in the lawsuit filed by the DOJ against Binance.
No mention of securities
Significantly, Alderoty pointed out that the Department of Justice (DOJ) did not imply any securities law violations by Binance or categorize the assets traded on its platform as securities.
This observation highlights a crucial distinction in the regulatory treatment of different types of digital assets.
The Ripple exec challenged the SEC’s terminology of “crypto-asset securities,” arguing that such a term lacks legal mea
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