The latest news on our DC Forecasts crypto news site show the blockchain payments network company Ripple and its recent announcement that shows it hired a former HSBC general counsel in order to oversee its legal services and compliance.
First shared in a press release on January 30th, the news shows that Stuart Alderoty will be in charge of the legal territory and the operations involving the cryptocurrency XRP within the company. The previous CIT at HSBC comes to Ripple in crucial times, when the company is facing a consolidated consumer lawsuit over the performance of its token, XRP.
As the CEO of Ripple Brad Garlinghouse stated when commenting Alderoty and his capabilities:
“As we continue to work with financial institutions and regulators across the globe to drive home the importance of fostering innovation while protecting consumers, I could not think of a better addition to Ripple’s leadership bench and our global legal team than Stuart. He brings a level of experience and expertise that will be vital in supporting not only Ripple’s growth but growth of the overall industry.”
Alderoty joins the blockchain firm from the financial institution CIT, where he served as an executive vice president, general counsel and corporate secretary.
Meanwhile, there is some controversy around XRP’s true market value, especially following the lawsuit that the company received.
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