Ripple Backs Trump Crypto Report as Legal Battle with SEC Nears Key Deadline

Ripple Labs’ Chief Legal Officer, Stuart Alderoty, has expressed strong approval of the White House’s newly published digital assets report, calling it a “blueprint for action” that could hasten regulatory clarity in the crypto sector. Released on July 30 by the Working Group on Digital Asset Markets under the Trump administration, the report endorses the CLARITY Act and emphasizes the need for robust market structure rules, consumer protections, and national security measures. Alderoty described the document as comprehensive and direct, noting its potential to drive significant progress for the industry [1].

The report aligns with Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), particularly around the classification of XRP. It urges the SEC and the Commodity Futures Trading Commission (CFTC) to clarify how digital assets are defined and what custody requirements apply. This aligns with Ripple’s long-standing argument that XRP should not be classified as a security, a position that could gain momentum under the proposed regulatory framework [1].

Alderoty also highlighted the urgency for Congress and federal agencies to act, especially in the wake of the recently passed GENIUS Act. The report’s call for clear market structure rules and stronger oversight reflects a growing recognition of the need for balanced regulation that supports innovation while protecting investors [1].

Ripple’s stablecoin, RLUSD, with a market capitalization of approximately $577 million, stands to benefit from the report’s preference for privately issued stablecoins over central bank digital currencies (CBDCs). The company has consistently advocated for responsible innovation and reasonable oversight, positioning itself in line with the themes promoted by the administration [1].

As the regulatory environment evolves, so does the legal landscape for Ripple. A key development is expected on August 15, when Ripple and the SEC are required to submit a joint status report on the appeal process. The court previously granted a temporary suspension of proceedings, provided the parties provided an update. Marc Fagel, a former SEC lawyer, noted that this is not a final deadline and could open the door to new developments in the ongoing discussions [1].

The Trump administration’s report is part of a broader effort to establish the U.S. as a global leader in capital markets while ensuring investor protection. SEC Chairman Paul Atkins has echoed this sentiment, emphasizing a balanced and sensible regulatory approach [1].

The timing of these developments adds a strategic dimension to Ripple’s legal and market positioning, as the company continues its multi-year fight for clearer legal and regulatory definitions of its products.

Source: [1] Ripple’s Top Lawyer Calls Trump’s Crypto Report a “Blueprint for Action” in SEC Fight (https://coinmarketcap.com/community/articles/688b6414662d5e6802830f9c/)