Ripple (XRP) Chief Legal Officer (CLO) Stuart Alderoty criticized the portrayal of cryptocurrencies as “tools for crime and corruption,” saying that this approach is both baseless and does not reflect reality.
In his post on the X platform, Alderoty stated that recent news in traditional media has ignored the transparent blockchain and its large user base.
“These words are useful, but lazy and wrong,” Alderoty said, arguing that the primary focus should be on who uses crypto and for what purposes. He noted that digital assets are used by tens of millions of Americans in practical applications like lending, proof of ownership, and establishing new trading models.
“Crime does not thrive in a system that operates openly,” Alderoty said, arguing that public blockchains make transactions more traceable, thus providing transparency and an advantage in terms of detecting criminal activity.
The overarching theme of Alderoty’s message was that crypto isn’t a “speculation space,” but rather a toolkit that shortens transaction times, reduces middlemen, and creates auditable records. He pointed out that the real story lies in crypto’s everyday benefits.
Alderoty also stated that the National Cryptocurrency Association, which Ripple supported with a $50 million grant on March 5, has undertaken the mission of telling these user stories and providing accurate information.
While cryptocurrency can be used in criminal activities, generalizing it is a huge mistake, according to Alderoty. “The reality is that open systems allow for persistent and continuous control,” he said. “The narrative needs to catch up with reality.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/ripple-xrp-chief-legal-officer-responds-to-criticisms-directed-at-the-industry/
