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The Leader of SEC’s Crypto and Cyber Litigation Team Joins White & Case
On February 21, 2024, it was announced that the head of the Securities and Exchange Commission’s (SEC) crypto and cyber litigation legal team, Ladan Stewart, had left to join the private firm White & Case. This move was revealed in a press release by White & Case, stating that Stewart had joined the firm as a partner in its white-collar defense group.
Experience at SEC
Stewart had spent eight years in the SEC’s enforcement division and had led the Commission’s crypto and cyber litigation unit since September 2022. Notably, this unit was the first-ever specialized litigation department at the SEC. During her time at the SEC, Stewart had led the lawsuit filed against crypto exchange Coinbase in June 2023, alleging that it operated without proper registration as a securities exchange, broker, and clearing agency. She also played a key role in the legal battle between the SEC and the digital payment protocol Ripple, questioning whether its XRP token qualifies as an unregistered security.
Legal Developments
Last year, a federal judge in New York ruled that Ripple’s XRP token is not considered a security when sold to the general public, a decision celebrated by the industry as a triumph. However, SEC Chair Gary Gensler has opted to challenge the ruling by filing an appeal, showcasing his stance as a strong crypto critic, holding the view that most digital tokens are securities.
New Role at White & Case
In an interview with Bloomberg, Stewart expressed her intention to establish a crypto and cyber defense practice at White & Case, emphasizing the growing importance and complexity of legal questions surrounding crypto assets. Joel Cohen, the leader of White & Case’s white-collar group, highlighted the value of Stewart’s expertise in the firm’s efforts to expand its white-collar footprint and capabilities in the US.
White & Case is one of the largest law firms in the United States with over 2,600 lawyers spread across 40-plus global offices. Its major clients have included Microsoft, AbbVie Inc., and GoldenTree Asset Management.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
