Ripple exec He predicts changes in the crypto landscape in 2024

Ripple's Chief Legal Officer Stuart Alderotti He shared insights about the future of the cryptocurrency landscape in 2024. He talks about Ripple's legal dispute with the United States Securities and Exchange Commission (SEC), the impact of the judicial system on crypto regulations, and the US Congress.

Alderoty predicts a possible settlement of Ripple's allegations with the SEC in 2024, and warns against the SEC's continued “regulation enforcement” strategy, which highlights the potential consequences for the crypto industry.

Alderoty predicts a greater role for the judiciary in curbing SEC overreach, suggesting that ongoing legal conflicts could escalate into a clash at the U.S. Supreme Court.

On regulation, Alderoty expects US lawmakers to agree on the need for crypto regulations. However, while other countries increase regulatory transparency and innovation, US crypto companies face an implementation period that puts them at risk.

The SEC filed charges against Ripple Labs and its current and former CEOs in 2020. The SEC said the executives conducted an initial public offering of XRP (XRP), which was an unregistered security at the time. According to the lawsuit, Ripple raised money from US and international investors by selling XRP tokens to unregistered security offerings.

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However, in July, Ripple scored a legal victory against the SEC, when the judge gave a summary judgment in favor of Ripple Labs, not the security of the XRP token but only regarding the sale of the program on the digital asset exchange.

However, the SEC was also able to score a victory of its own, as a federal judge ruled that XRP met the conditions set out in the Hawaii test and was safe to sell to institutional investors. Major US exchanges have since relisted XRP, resulting in an impressive 83% year-to-date increase in the token's value.

Crypto analysts and enthusiasts argue that Ripple's legal conflict with the SEC has hindered its growth and acceptance in the United States. John Deaton, a pro-XRP lawyer, said that the allegations were fabricated and that evidence from the past three years supports this claim. Despite Ripple's global success, the issue has hurt XRP adoption in the United States, he said.

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