Ripple’s Chief Legal Officer and chairman of the National Cryptocurrency Association explain the real users of Crypto, Ripple’s legal victory, and why the new NCA voice is needed more than desire.
In an exclusive interview with Thestreet, Stuart Aldeoty says that today’s biggest misconceptions about Crypto are about people, not prices or regulations. Aldeloty, who is also the chairman of the newly launched National Cryptocurrency Association (NCA), said
“We’ve all heard of the ‘Crypto Bro’ stereotypes. It is a misconception that codes are only for certain people, or that their sole usefulness is invested. The reality is that Crypto doesn’t have a type,” he says.
After more than seven months in stealth mode, the NCA will work as a non-profit education initiative that will help fight misinformation, provide valuable resources and serve as a way to help everyday crypto users.
According to Aldeoty, the organization is partially funded by Ripple, and thus operates entirely as a standalone.
“One in five adults in the US currently uses code,” he notes, referring to the NCA study. “People over 55 use cryptography more than people under 25, and nearly a third of all American crypto holders are women. Crypto owners are more likely to work in construction than finance (7%) (7%), with most acquired by 26% of households with cryptocurrency under 75K.”
When asked why now, why, he said it seems right to fill the vacuum that is becoming more and more obvious in American crypto ecosystems.
He said, “I hope to use today’s Crypto to speak out to real people and businesses to inspire and inform others who may be interested in cryptography but don’t know where to start.
“The NCA is not involved in regulations or law, and we are not a lobbying or advocacy organization. We focus on lasers on directly supporting consumers through awareness and education,” he said.
When asked about his key role in bringing Ripple’s victory, he said, “My experience as a CLO for Ripple has given me a unique perspective on the obstacles facing American crypto holders and the need for organizations like the NCA that help people navigate the evolving landscape.
As for legacy, he says, “While Ripple’s chapter with the SEC is closed and we are proud of that victory, the quest for fair and transparent crypto regulation is not yet over. The case set a landmark legal precedent for the entire crypto industry and there is immense opportunity ahead, especially in the US as 73% of holders believe it’s important for the US to become the global leader in space and almost two-thirds (64%) support government regulation of crypto. As With new laws and policies going through, the NCA is here to come and help everyday Americans understand what it means to them.