Crypto Ownership Surpasses Stereotypes, Says Ripple's Alderoty

Ripple's Chief Legal Officer Stuart Alderoty is pushing back against critics who stereotype supporters of cryptocurrency regulation as 'the crypto boys'. He claims that the industry's user base is far more diverse than its detractors believe.

According to Alderoty, roughly 67 million Americans currently hold digital assets. This number includes women, who make up about one-third of U.S. crypto owners. What's striking is that more holders are over the age of 55 than under 25.

Alderoty describes these individuals as 'teachers, construction workers, veterans, nurses, parents, and small business owners'. His comments came in response to a Wall Street Journal Opinion editorial criticizing the Senate's proposed CLARITY Act. The editorial argued that certain provisions could create loopholes for crypto exchanges to offer stablecoin-related rewards.

The opinion piece also raised concerns over some exemptions for decentralized networks. Blockchain Association CEO Ji Kim described it as containing 'factual and legal inaccuracies'. Alderoty's comments highlight the divide in political attitudes toward the industry, with a recent poll showing that 84% of Democratic primary voters view candidates backed by the crypto industry unfavorably.