A prominent member of the legal team at the US Securities and Exchange Commission, Ladan Stewart, recently left her position to join a law firm that is supportive of cryptocurrency, according to a report by Bloomberg Law on February. Stewart, who previously worked as the Regional Trial Counsel for the SEC’s Crypto Assets and Cyber Unit starting in September 2022, has now become a partner at White & Case with the goal of creating a practice focused on crypto and cyber defense. In a statement provided to Bloomberg, she expressed her excitement about this new opportunity. The popularity of crypto has been solidified by the introduction of several Bitcoin exchange-traded funds, demonstrating that it is here to stay. As the legal landscape is intricate and constantly changing, legal issues related to cryptocurrency will remain a prominent concern for the foreseeable future. In 2015, Stewart became a member of the SEC and was involved in the SEC’s legal team in the lawsuit against Ripple regarding the securities classification of XRP. She also oversaw the SEC’s legal action against Coinbase, but recent documents suggest that she will no longer be involved in that case. Stewart has joined a new law firm that has worked with prestigious clients such as Microsoft, GoldenTree Asset Management, and Abbvie Inc. Meanwhile, Eric Balchunas, an analyst at Bloomberg ETF, pointed out that White & Case provided legal advice to Fidelity in the development of its Bitcoin ETF (FBTC), which was approved in January. The law firm participated in Celsius’ bankruptcy case, which has now been finalized. Joel Cohen, a member of White & Case, commended Stewart and highlighted her valuable experience, particularly in light of the increased regulatory scrutiny of the cryptocurrency industry in recent times. It is not clear if this development indicates that the SEC’s enforcement abilities are getting weaker. The announcement follows a report from November 2023 that stated the SEC has difficulty recruiting crypto experts due to its ban on owning cryptocurrency. Additionally, the regulatory agency is currently dealing with a new lawsuit in Texas filed by Lejilex and the Crypto Freedom Alliance of Texas (CFAT). The lawsuit alleges that the SEC went beyond its jurisdiction when regulating digital assets, according to a report by Reuters published on February.