Key SEC Crypto Counsel Joins Pro-Crypto Law Firm Amid New Lawsuit Against The Regulator

By: Eliza Bennet

Ladan Stewart, a significant figure within the legal team of the US Securities and Exchange Commission's (SEC) Crypto Assets and Cyber Unit, has reportedly left her position at the SEC. Stewart has chosen to join White & Case, a pro-crypto law firm, as a partner to establish a crypto and cyber defense practice, as reported by Bloomberg Law on February 21.

During her tenure at the SEC, which started in 2015, Stewart was involved in the regulator's case against Ripple regarding the securities status of XRP, the associated token. She also spearheaded the ongoing SEC lawsuit against digital currency exchange Coinbase. Recent legal filings suggest that she will be withdrawing from the Coinbase case.

In relation to her move, Stewart stated that 'Crypto is here to stay', emphasizing the need for legal clarifications surrounding the crypto arena due to its complexity and turbulent enforcement environment. Stewart's new law firm, White & Case, has previously represented high-profile clients such as Microsoft, GoldenTree Asset Management, and pharmaceutical firm Abbvie Inc.

However, this development occurs amidst a new lawsuit against the SEC filed by crypto firm Lejilex and the Crypto Freedom Alliance of Texas. The suit alleges that the SEC has overstepped its regulatory authority concerning digital assets.