Ripple CLO "Virtual assets are not tools of crime but transparent technology"

Son Min

Summary

Ripple's Chief Legal Officer Alderoty said that the recent mainstream media narrative linking virtual assets to crime is distorted.
He emphasized that virtual assets are a transparent and traceable technology used in real life by tens of millions.
Alderoty said that virtual assets are at the center of financial innovation, and that the majority of users are sound financial users.

Ripple's Chief Legal Officer (CLO) Stuart Alderoty recently criticized major media for spreading a narrative that defines virtual assets as 'tools of crime and corruption.'

On the 19th (local time), according to CoinDesk, Alderoty said, "Some mainstream outlets are relying on the convenient narrative that 'virtual assets are crime,'" and pointed out that "this is a distorted approach that ignores the actual functions and uses of virtual assets."

He added, "Virtual assets are a transparent and traceable technology used in real life by tens of millions of Americans," and said, "Public blockchains have all transaction records publicly available, and crime cannot thrive in the 'broad daylight public square.'"

This follows The New York Times' recent series of critical reports on virtual assets.

Alderoty emphasized, "Now the narrative must catch up to reality," and "virtual assets are at the center of financial innovation based on transparency and efficiency, and the majority of users are not criminals but sound financial users."