Stewart, a former SEC lawyer, denies an anti-cryptocurrency conspiracy. Stewart emphasizes the protection of cryptocurrency investors, and considers it necessary to improve the dialogue on the regulation of the industry.
Ladan Stewart, a former key figure at the US Securities and Exchange Commission (SEC), has publicly refuted claims suggesting a government agenda against cryptocurrencies. She emphasizes that the regulatory body’s actions were never intended to stifle innovation in the nascent industry.
Last month, the former head of the SEC’s crypto litigation unit spoke on a panel at Columbia Business School and shared some insights into how the agency operates. While she no longer works with the Commission, Stewart’s ideas reflect very deep connections to the SEC’s stance, its strategies, and what it hopes to achieve with the crypto industry.
Former SEC Attorney Joins Cryptocurrency Law Firm
It should be recalled that the lawyer, who represented the United States Securities and Exchange Commission (SEC) in its enforcement case against Ripple, has joined a law firm that often defends cryptocurrency companies.
In a Feb. 21 statement, law firm White & Case said Stewart joined its practice as a partner in New York, citing her experience in cryptocurrency enforcement cases. She helped litigate the commission’s case against Ripple, which was filed in December 2020, retiring as an attorney of record in January after “leaving employment at the SEC.”
While at the SEC, Stewart handled litigation against Ripple, former FTX CEO Sam Bankman-Fried, and Coinbase. She had worked as a consultant in the commission’s enforcement division for about eight years before joining White & Case.
Cryptocurrencies Will Not Be Eliminated in the United States
Stewart, now a partner at White & Case LLP, explained that during her tenure at the SEC, her primary focus was litigating high-profile cases like those filed against Ripple and Coinbase. He noted that the agency’s approach has always been technologically neutral.
Thus, it clarified widespread speculation about a deliberate crackdown that the SEC has imposed on cryptocurrency companies.
“The SEC is not trying to crack down on cryptocurrencies. Our primary concern has always been ensuring investor protection and compliance within the industry,” Stewart stated.
Her comments come at a time when industry leaders have expressed concern that tough cryptocurrency regulatory measures could drive innovation outside the United States.
According to Stewart, the industry’s compliance with regulations designed to protect investors is essential. The SEC’s efforts constantly ensure that investors have all the detailed information.
Although the SEC will continue to enforce regulations, there is no conspiracy to dismantle the crypto industry. Instead, the focus is on fostering a safe and compliant environment for investors. This, in turn, supports healthy growth of the sector.
Collaboration between Regulators and the Crypto Community Is Paramount
According to Stewart, open dialogue and cooperation between regulators and the crypto community are essential to resolving current tensions. Stewart’s ideas underscore a significant shift in regulatory strategies, which focus on education and enforcement rather than restriction.
As someone who has transitioned from a government role to a private legal practice, Stewart aims to bridge the gap between the crypto industry and regulatory frameworks.
Her new role is to guide cryptocurrency companies through the complex landscape of US regulations, striving for a balance that respects innovation and legal compliance.
By Leonardo Perez
