Ripple Chief Legal Officer Stuart Alderoty said in a recent in sharing He commented on the possible future of the cryptocurrency industry in 2024.
The prediction also covers the expected outcome of Ripple’s ongoing lawsuit with the Securities and Exchange Commission (SEC), the judiciary’s role in shaping crypto regulations, and potential crypto issues in Congress.
Alderoty expects the SEC’s long-standing lawsuit against Ripple to be concluded in 2024. However, according to the experienced lawyer, the SEC’s “regulation through sanctions” approach cryptocurrency It may be risky enough to continue, affecting other leading players in the industry.
It also envisions the courts continuing to play an important role in preventing SEC overreach. He even predicts that the ongoing legal disputes could eventually culminate in a Supreme Court showdown.
As we reported as Koinfinans.com, according to Alderoty, Congress will take another step next year and make an agreement “in principle” on regulations regarding cryptocurrencies. However, the details of implementing these laws will face legislative questions. As a result, US crypto firms will face an insecure environment.
Ripple made a name for itself by achieving important victories against the SEC in 2023. Additionally, all charges against CEO Brad Garlinghouse and co-founder Chris Larsen were dropped.