Ripple's Chief Legal Officer, Stuart Alderoty, has criticized the US Federal Reserve and SEC for unfairly targeting crypto and placing blame on it for money laundering. Alderoty argues that traditional finance, such as the New York Fed, is just as guilty of facilitating illicit transfers. His comments were in response to a Wall Street Journal report about the New York Fed allowing money to be transferred to terrorist groups in Iran. Pro-XRP lawyer John Deaton backed Alderoty's stance, stating that major banks are more involved in money laundering than Bitcoin and crypto. Ripple CEO Brad Garlinghouse also criticized the US government's negative stance toward crypto and its regulatory approach. Despite these tensions, XRP's price saw a 3% rise in the past 24 hours, but analysts caution that this increase may not be sustained. The article asks readers whether traditional finance deserves more blame for money laundering than crypto.
- Content Editor ( coinpedia.org )
- 2024-09-10
XRP News: Ripple CLO Blasts Fed, Reveals Who’s Really Laundering Billions