SEC crypto unit leader departs for private sector following Coinbase litigation

Ladan Stewart, known for her role as a leading anti-crypto lawyer at the Securities and Exchange Commission (SEC), has transitioned to the private sector. Stewart, who has been at the forefront of the SEC’s Crypto Assets and Cyber Unit, is set to enhance the crypto and cyber defense practice at international law firm White & Case.

Stewart’s transition and expertise

Stewart’s departure from the SEC marks the end of a notable tenure where she was involved in high-profile litigation against major cryptocurrency platforms, including Coinbase and Ripple. Her role in these cases highlighted her as a key figure in the regulatory body’s efforts to impose legal standards on the crypto industry. 

At White & Case, Stewart will leverage her vast experience in crypto enforcement and litigation. Her profile on the firm’s website emphasizes her unparalleled expertise, which is expected to guide clients through the complex regulatory environment surrounding the crypto industry.

It is important to know that Stewart’s departure comes after Stewart’s involvement in the SEC’s lawsuit against Coinbase, where the agency accused the exchange of listing crypto tokens that it classified as securities without proper registration. Stewart’s withdrawal from the case coincided with growing optimism around Coinbase’s defense, suggesting a potential shift in the legal landscape for crypto firms facing regulatory scrutiny.

Impact on crypto regulation and enforcement

Stewart’s transition to White & Case is a pivotal development for the crypto sector, especially given her deep regulatory insight and enforcement experience. Her new role is anticipated to offer a unique perspective to clients navigating the challenges posed by SEC regulations. The firm has a history of representing high-profile clients, including in the crypto space, and Stewart’s addition is expected to bolster its capabilities in defending against regulatory actions.

During her recent interview with Bloomberg Law, Stewart said: “Crypto is here to stay—that’s become very clear with the launch of a slew of Bitcoin exchange-traded funds. Given the complexity and the turbulent enforcement arena, legal questions surrounding crypto will be at the forefront for some time.”

The announcement of Stewart joining White & Case has sparked discussions about the movement of government officials to the private sector, particularly in areas involving intense regulatory scrutiny like cryptocurrency. This move is viewed as a bridge between regulatory perspectives and the industry’s need for legal guidance that is in tune with the SEC’s regulatory approach.