Who could have seen this coming?!
In a surprising twist, lawyers are making strategic moves, swapping sides between the Securities and Exchange Commission (SEC) and private law firms. Coinpedia recently disclosed the covert submission of resumes by attorneys to various US law firms, igniting speculation about the SEC’s internal dynamics.
Notably, SEC lawyers disclosing Commissioner Gensler’s position before a potential exodus has raised concerns about the agency’s direction under his leadership.
Ladan Stewart, a prominent figure in the SEC’s crypto unit, has left the agency to join White & Case, a law firm renowned for its pro-crypto stance. This move has stirred the crypto community, sparking debates about the potential ramifications.
CryptoLaw and MartyParty, well-known figures in the crypto space, expressed surprise at Stewart’s departure from the SEC. Their tweets suggest that her transition to a private law firm supportive of cryptocurrencies might signify a significant shift in the legal dynamics surrounding crypto regulation.
Also Read: Ripple and Coinbase Get a Boost? Top SEC Lawyer Switches Sides, Joins White & Case
With Stewart playing a pivotal role in the SEC, overseeing high-profile cases such as the lawsuit against Coinbase and the legal battle with Ripple, her departure raises questions about the agency’s future direction. The industry is wondering – is this the downfall of the SEC?
Stewart’s decision to join White & Case, known for its robust white-collar defense group, underscores her commitment to the crypto and cyber defense space. She asserted that “crypto is here to stay,” citing the rising popularity of Bitcoin exchange-traded funds and the persistent legal ambiguities surrounding cryptocurrency.
In addition to Stewart, White & Case welcomed John Cahill, a seasoned corporate real estate lawyer, further bolstering its legal team. These hires reflect the firm’s commitment to expanding its capabilities in key practice areas, including crypto and corporate law.
Stewart’s departure from the SEC and her move to White & Case mark a noteworthy development in the evolving relationship between regulators and the crypto industry. The industry observes keenly, anticipating how her transition will influence future regulatory decisions and legal proceedings concerning cryptocurrency.
The SEC’s loss is the crypto industry’s gain. Agree or disagree?
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