Stewart’s Departure from SEC and Its Ripple Effect on Crypto Regulation
Lawyers Switching Sides at the SEC: Ladan Stewart’s Departure Sparks Speculation
In recent weeks, there has been a notable trend of lawyers secretly sending their resumes to various law firms in the US, signaling a potential exodus from the Securities and Exchange Commission (SEC). This has raised concerns about internal issues within the agency under the leadership of Gary Gensler.
The latest development in this ongoing saga involves Ladan Stewart, a prominent figure in the SEC’s crypto unit, who has left the agency to join White & Case, a law firm known for its pro-crypto stance. This move has caused a stir within the crypto community, leading experts and influencers to speculate on its implications.
CryptoLaw and MartyParty, well-known figures in the crypto space, have expressed surprise at Stewart’s departure from the SEC and her transition to a private law firm that supports cryptocurrency. Their tweets suggest that this move could signify a significant shift in the legal landscape surrounding crypto regulation.
Stewart played a crucial role at the SEC, leading high-profile cases such as the lawsuit against Coinbase for allegedly operating as an unregistered securities exchange. She was also involved in the legal battle with Ripple over the classification of its XRP token as a security, a case that has garnered widespread attention within the crypto industry.
By joining White & Case, a firm with a strong white-collar defense group, Stewart indicates her intention to continue working in the crypto and cyber defense space. She believes that crypto is here to stay, pointing to the increasing popularity of Bitcoin exchange-traded funds and the ongoing legal questions surrounding cryptocurrency.
White & Case’s decision to hire Stewart highlights the growing importance of legal expertise in navigating the complex regulatory landscape of the crypto industry. With regulatory scrutiny on the rise, her experience at the SEC will be a valuable asset for the firm as it aims to provide comprehensive legal services to its clients.
In addition to Stewart, White & Case has also welcomed John Cahill, a seasoned corporate real estate lawyer, further strengthening its legal team. These hires demonstrate the firm’s commitment to expanding its capabilities in key practice areas, including crypto and corporate law.
Overall, Stewart’s departure from the SEC and her move to White & Case mark a significant development in the relationship between regulators and the crypto industry. The impact of her transition on future regulatory decisions and legal proceedings related to cryptocurrency remains to be seen.