Ripple's Chief Legal Officer, Stuart Alderoty, has voiced opposition to the application of Dodd-Frank Act-style regulations to the cryptocurrency sector. Alderoty argues that regulators should focus on developing proactive digital asset rules rather than adopting a reactive stance. He cautions against the creation of overly complex market structure regulations and advocates for sensible legislation. Currently, the House has passed a version of legislation that mandates SEC and CFTC oversight and requires the segregation of client funds. Meanwhile, the Senate committee is working on a different framework that includes a 'complementary asset' classification.