SEC key Crypto unit leader leaves amid impending ETF decisions - CryptoCrazeNews

SEC key Crypto unit leader leaves amid impending ETF decisions

SEC key Crypto unit leader leaves amid impending ETF decisions

SEC key Crypto unit leader leaves amid impending ETF decisions

As the cryptocurrency industry awaits a crucial decision over the spot Ethereum Exchange-Traded Fund (ETF), the US Securities and Exchange Commission (SEC) key leader has decided to move out. Ladan Stewart, a key figure in the SEC’s crypto unit reportedly has left the agency.

SEC ex bids adieu

According to a report by Bloomberg Law, Ladan Stewart will join White & Case. The former SEC executive had led the commission’s crypto and cyber litigation unit since September 2022. She had played a crucial role in high-profile court battles with the crypto industry. However, her departure comes at a time when the SEC faces impending decisions on spot Ethereum ETFs.

Stewart’s tenure at the SEC saw her leading big legal actions against major crypto players. This includes the lawsuit against Coinbase for allegedly operating as an unregistered securities exchange. It should be noted that she was also part of the legal team engaged in a long running legal battle with Ripple over the classification of its XRP token.

The report suggests that the former head of the SEC’s crypto and cyber litigation unit played a key role in the crypto regulatory space. On the other hand, the SEC has taken a proactive stance on crypto regulations under the leadership of Gary Gensler. The departure of Stewart might move the commission’s approach towards crypto.

It added that Stewart in her new firm will intend to develop a crypto and cyber defense practice. This reflects the increasing importance of legal expertise in addressing the challenges. It also shows the legal scrutiny faced by the crypto industry.

Cryptocurrency is here to stay

However, she mentioned that the crypto is here to stay. This comes in with the recent launch of Bitcoin ETFs. Stewart highlighted the ongoing legal complexities and enforcement in the crypto space. She even indicated that legal questions around the crypto industry will remain here for the foreseeable future.

Ladan Stewart’s move comes in when the buzz around ETH ETF is getting strong. The US SEC’s delaying tactics had shifted the impending decision until May. The arrival of the spot Bitcoin ETF boosted the market.

Bitcoin (BTC) recently regained the $53K mark before dipping to the $50K level. While Ethereum which was dealing with a high selling pressure proved to surge with the help of positive sentiments. ETH price recently jumped over the $3K mark.

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