Ripple's Stuart Alderoty: Crypto doesn't need a Dodd-Frank moment as lawmakers work to draft rules for digital assets
Quick Take “Dodd Frank was reactive to a crisis,” Ripple CLO Alderoty said on Thursday during a conference hosted by the Psaros Center for Financial Markets and Policy at Georgetown University. Lawmakers in Washington are working quickly to pass legislation, writing rules for the cryptocurrency industry at large.
The cryptocurrency industry doesn't need Dodd-Frank-like legislation, said Ripple Chief Legal Officer Stuart Alderoty as lawmakers in Washington barrel toward trying to pass a bill that would regulate that sector at large.
"Dodd Frank was reactive to a crisis," Alderoty said Thursday during a conference hosted by the Psaros Center for Financial Markets and Policy at Georgetown University, and said crypto legislation should instead be "proactive."
The Dodd-Frank Act is a federal law passed in 2010 as a response to the 2008 financial crisis. It bolstered oversight and regulation of the financial industry, in part through creating the Consumer Financial Protection Bureau and the Financial Stability Oversight Council, to root out risks and protect consumers.
Lawmakers in Washington are working quickly to pass legislation, writing rules for the cryptocurrency industry at large. The House passed a bill over the summer that would designate how the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission will regulate crypto and also requires digital asset firms to provide retail financial disclosures and segregate corporate and customer funds. A Senate Banking Committee version of the bill has different components, including a term "ancillary assets" to shed light on which digital assets are not securities. Both chambers would need to agree on one bill, and later get the president's signature, to pass into law.
Senate Banking Committee Chair Tim Scott has said he wanted to get something done on that legislation by the end of the month , but that now is likely to be pushed back in part as a government shutdown looms. The Senate Agriculture Committee would also need to vote on a crypto market structure bill.
Market structure is complicated, Alderoty said.
"I'm all for market structure, that's smart legislation, but what we don't need is a Dodd-Frank for crypto at this stage," Alderoty added.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Uruguay’s Energy Challenges Disrupt Tether’s $500 Million Cryptocurrency Investment
- Tether abruptly ended its $500M Uruguay Bitcoin mining project due to unsustainable energy costs and uncompetitive tariffs. - The project, initially promoted as eco-friendly, faced $4.8M in unpaid bills and regulatory challenges. - The exit highlights risks for crypto miners in regions with volatile energy markets and uncertain policies. - Tether remains interested in Latin American green energy projects despite the Uruguay setback.
Solana News Update: Solana Experiences Sharp Price Drop, Yet Institutional Investments Reflect Confidence in Its Future
- A $239M whale transfer on Solana by Forward Industries to Fireblocks Custody highlights institutional confidence amid SOL's 53% price drop since January 2025. - Upexi's $23M private placement and 40% stock decline underscore crypto exposure risks as institutional Solana ETF inflows hit $420M in November. - CME's Dec 15 SOL/XRP futures launch and Fidelity's staking ETFs signal growing institutional adoption despite Solana's $77.4B market cap decline. - Whale activity and ETF trends suggest strategic long-
Bitcoin Updates Today: U.S. Bitcoin Holdings: Advancement or Threat in the International Crypto Competition?
- U.S. Rep. Warren Davidson proposes Bitcoin tax payments and a Strategic Bitcoin Reserve to modernize tax collection and hedge against inflation. - The UK tightens crypto tax rules, aligning with global efforts to regulate digital assets amid volatility, fraud, and tax evasion concerns. - Critics warn BTC's volatility risks reserve stability, while compliance costs and environmental impacts challenge adoption despite potential $230B reserve growth by 2030. - The bill mandates KYC data for transactions and
Harley-Davidson's 33 consecutive years of dividends demonstrate strong trust from investors
- Harley-Davidson declared a $0.18/share Q4 2025 dividend, extending its 33-year uninterrupted payout streak and signaling strong investor confidence in its financial stability. - Q3 2025 results showed EPS of $3.10 (double estimates) and $1.34B revenue (surpassing $1.01B forecasts), alongside strategic debt repurchases to optimize capital structure. - UPS grounded MD-11 fleets post-crash, delaying holiday operations, while CarMax and James Hardie faced lawsuits and stock declines amid leadership changes a
Trending news
MoreCrypto prices
More
