Though the U.S. Senate cloture on the Digital Asset Market Clarity Actfailed to secure the required 60 votes yesterday and couldn't advance the crucial crypto legislation, Ripple's chief lega
Though the U.S. Senate cloture on the Digital Asset Market Clarity Actfailed to secure the required 60 votes yesterday and couldn't advance the crucial crypto legislation, Ripple's chief legal officer, Stuart Alderoty, is still bullish on XRP.
The CLARITY Act aims to clarify the regulatory status of cryptocurrencies in the U.S. So far, agency actions and court rulings have decided that, and Ripple is no stranger to the legal battle.
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As the CLARITY Act stalled, Alderoty took the opportunity to remind the crypto community that both Ripple and XRP "stand on settled ground," as the 2023 federal court ruling established that "XRP is not a security."
It goes back to December 2020 when the Securities and Exchange Commission (SEC) sued Ripple Labs for offering unregistered securities to investors via the sale of XRP tokens. But Ripple claimed XRP is a digital currency, not a token.
In 2023, Judge Analisa Torres delivered a landmark ruling that XRP, in itself, is not a security. Though Ripple's XRP sale to institutional clients violated securities laws, the crypto firm's programmatic sales of XRP on crypto exchanges cannot be considered securities transactions, she ruled.
Though it was a partial victory for the SEC and Ripple, both parties decided to appeal. The case went on for years until both parties reached a settlement in August last year following Donald Trump coming back to the White House.
In his post, Alderoty also added that the SEC and CFTC referred to XRP as a digital commodity in a joint interpretation issued in March.
Don’t forget - Ripple and XRP stand on settled ground. The 2023 federal Court ruling established XRP is not a security.And in March the SEC and CFTC issued a joint interpretation naming XRP a digital commodity. SEC Chairman Atkins and a CFTC Chairman Selig understand these… https://t.co/63ML5xmbAP
— Stuart Alderoty (@s_alderoty) September 15, 2026
Both the SEC Chairman Paul Atkins and the CFTC Chairman Mike Selig understand these markets, and both regulatory agencies are expected to set out clear rules, Ripple's CLO said.
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