The head of the SEC's cryptocurrency department is resigning from his post. What does this mean for digital assets?
The U.S. Securities and Exchange Commission (SEC) has lost an important employee in the person of lawyer Ladan Stewart.
The U.S. Securities and Exchange Commission (SEC) has lost an important employee in the person of lawyer Ladan Stewart. She is an expert in the fight against cryptocurrency startups on the side of government agencies in case of violation of the first rules of operation. In general, Stewart served as the head of the cryptocurrency department at the Commission and took an active part in the SEC's lawsuit against the largest American crypto exchange Coinbase. However, now the lawyer has decided to leave the Commission for the private sector. She will join the international law firm White & Case, and in her new position Ladan will develop legal practices in the field of cyber defense and digital assets.
In her recent interview, Ladan Stewart expressed her favor for cryptocurrencies, and also stated the need for their proper regulation. Here is the corresponding version of the expert, which is provided by Decrypt.
Cryptocurrencies are not going anywhere – this became clear after the launch of many exchange-traded funds based on Bitcoin. Given the complexity and volatility of law enforcement in this area, legal issues related to cryptocurrencies will be in the first place for some time.
These words are confirmed by what was quietly disclosed in a court document last month – thus, Stewart essentially refuses to participate in the lawsuit against Coinbase.
It is unclear which clients Stewart may represent at White & Case. Previously, the firm collaborated with giants such as Microsoft, Abbvie Inc. and GoldenTree Asset Management. According to Bloomberg analyst Eric Balchunas, she also advised Fidelity on legal issues that relate to its spot exchange-traded fund.
