Ex-SEC Lawyer Involved in Ripple Case Joins Crypto Defense Firm White & Case
Summary:
Former SEC lawyer, Ladan Stewart, known for her significant role in the Ripple enforcement case, has joined the White & Case law firm as a partner. The firm, which often defends cryptocurrency companies, has welcomed Stewart for her extensive experience in crypto enforcement cases. Her potential representation of crypto companies and the possibility of her facing off against former SEC colleagues in future cases have raised concerns among lawmakers about the trend of ex-government officials moving into the digital currency sector.
Former Securities and Exchange Commission (SEC) lawyer, Ladan Stewart, who played a key role in the Ripple enforcement case, has now been inducted into a legal team that frequently defends cryptocurrency companies. In a press release dated February 21, White & Case law firm announced the inclusion of Stewart as their New York partner, highlighting her vast experience in cryptocurrency-related enforcement cases. Stewart was one of the primary forces behind the Ripple lawsuit initiated in December 2020, leaving her functions as an attorney in January due to her exit from the SEC.
"Having Ladan on board, with her previous post as the lead of the SEC’s dedicated crypto and cyber litigation unit is highly valuable, considering the intensified regulatory oversight on the crypto sector lately," stated Joel Cohen, leader of White & Case’s international white collar practice. "Ladan's expertise makes her an ideal advisor and defender of cryptocurrency entities against regulatory or individual cases." The firm has an extensive history of defending numerous crypto firms in major cases, including clashes with the SEC.
Nicole Erb, a partner at White & Case, hinted that Stewart might be representing cryptocurrency firms, utilizing her extensive knowledge from her pivotal position in the SEC’s Division of Enforcement to guide clients who face commission scrutiny. The potential of Stewart going up against previous SEC colleagues in crypto enforcement cases has underscored some lawmakers' apprehensions about ex-government authorities transitioning into the digital currency sector.
Speaking to Cointelegraph, Stewart noted, “It’s critical that crypto enterprises, and any firms seeking to delve into crypto and fintech, can receive counsel from individuals who comprehend how regulatory bodies like the SEC approach issues. I actually believe it’s beneficial when individuals invest time in governmental roles and then transition back to the private sector. They can bring unique expertise to the private sector that otherwise wouldn't have access to such information.”
In a conversation with Cointelegraph, Stewart acknowledged the potential risks of conflicts of interest but is convinced she can manage them effectively. During her SEC tenure, Stewart was chiefly involved in litigation against Ripple, ex-FTX CEO Sam Bankman-Fried, and Coinbase. After approximately eight years at the commission’s enforcement division, she joined White & Case.
The SEC currently has active legal battles against Binance, Kraken, Ripple, Coinbase, and numerous other entities in the digital asset sphere. Critics have reproached the SEC for adopting a "regulation through enforcement" approach towards crypto, in contrast to conventional financial institutions.
Published At
2/21/2024 10:40:28 PM
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