Ripple’s Chief Legal Officer, Stuart Alderoty, has publicly criticised Senator Elizabeth Warren for her ongoing opposition to stablecoin regulation, accusing her of waging an “all-consuming war on crypto.” The dispute centers around the GENIUS Act, a proposed legislation to create a clearer regulatory framework for stablecoins in the U.S.
Alderoty claims that Warren’s obstruction risks undermining consumer protection in a sector that urgently needs oversight, while Warren believes the bill will enable financial misconduct rather than prevent it.
A Battle Over the GENIUS Act
The GENIUS Act, formerly known as the Government-Enforced Network for Identifying and Utilising Stablecoins, is expected to be voted on by the Senate in the coming weeks. Republican lawmakers had aimed to push the bill through before Memorial Day, hoping to secure bipartisan support for a long-awaited stablecoin regulatory framework.
However, Warren has emerged as a leading voice against the bill. “Right now, the Senate is going to greenlight the grift by passing the so-called GENIUS Act next week,” she warned in a statement, emphasizing her concern that the bill may open the door to corruption rather than close regulatory gaps.
Warren argues that stablecoin integration into the broader banking ecosystem could increase systemic risk. Since last August, she has consistently opposed efforts to legitimize stablecoins like Tether through federal regulation.
Ripple’s Alderoty Responds
In a sharp rebuke, Alderoty suggested that Warren’s resistance isn’t grounded in a concern for safety, but rather reflects a broader anti-crypto ideology. “Her war on crypto is all-consuming,” he wrote on X, formerly Twitter, suggesting that Warren’s approach to crypto is more obstructionist than protective.
According to Alderoty, stablecoin legislation such as the GENIUS Act is designed to enhance user protection, market transparency, and legal clarity—three pillars he believes are essential for the U.S. to remain competitive in digital finance.
He argues that without regulation, bad actors will thrive in unregulated spaces, and users will remain vulnerable to market instability and fraud.
Related article: XRP Buying Frenzy: Whales Accumulate Millions as Ripple Eyes Expansion
Political Uncertainty Clouds the Bill
Though the GENIUS Act initially gained traction, recent developments suggest its path forward may be more complicated. According to reports from CryptoBoom, several pro-crypto Democrats who had previously expressed support are now reconsidering their stance.
Even Senate Minority Leader Chuck Schumer has voiced concerns, particularly regarding Tether’s market dominance and lack of transparency.
Warren and her allies have submitted multiple amendments to the bill, but none have passed, signalling growing friction between crypto advocates and regulatory hawks within the Democratic Party. It remains unclear whether the bill will receive the 60 Senate votes needed to bypass a filibuster.
The fate of the GENIUS Act could signal the direction of U.S. crypto regulation for years to come. Supporters argue that regulation brings legitimacy and protection, while opponents like Warren fear that fast-tracking stablecoin adoption could destabilize the financial system.
As partisan lines blur and crypto’s place in politics becomes more contentious, industry leaders like Alderoty continue to advocate for clear, balanced policies that protect consumers without stifling innovation.
