Ripple’s Legal Head Predicts SEC Scrutiny and Crypto Regulation Discord in 2024, Threatening U.S. Firms’ Growth

B. Ali
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Ripple’s legal chief anticipates a stricter approach from the U.S. Securities and Exchange Commission (SEC) towards cryptocurrencies in 2024. He predicts that the U.S. Congress will struggle to reach a consensus on crypto regulation, potentially putting American crypto businesses at a disadvantage compared to global counterparts.

This could result in challenges for U.S. crypto firms as they may lag in advancements while other countries make significant progress. Therefore, this uncertain regulatory landscape might hinder the growth and innovation of the crypto industry in the United States, creating a potential gap in competitiveness on the international stage.

Ripple’s Stuart Alderoty’s 2024 Crypto Predictions

Last Friday, Ripple Labs’ legal head, Stuart Alderoty, shared crypto predictions for 2024 on the social platform X. He made three key forecasts about crypto policy and U.S. regulation. Firstly, he expects the SEC’s lawsuit against Ripple to conclude in 2024 but warns of ongoing enforcement actions against others.

Secondly, Alderoty predicts that judges will step in to prevent the SEC from going too far, potentially leading to a showdown in the Supreme Court. Thirdly, he anticipates Congress agreeing on basic principles for U.S. crypto rules but is unable to decide on the best steps forward. Thus, this disagreement, he suggests, may leave U.S. crypto firms facing challenges while the rest of the world makes positive strides in the crypto space.

Crypto Industry Insights and Predictions for 2024: Ripple’s Perspective

Adrien Treccani, Ripple’s Product VP, thinks the crypto industry will change in 2024. He believes it won’t just focus on winning over banks; instead, big companies and global banks will actively seek digital asset solutions for fast, transparent, and on-demand financial services. This shift marks a new era, moving past the challenges of 2023.

In simple terms, Treccani suggests that the focus in 2024 will be on satisfying the demands of large banks and companies for fast and reliable digital financial solutions, indicating a positive change in the crypto landscape.

Adrien Treccani, Ripple’s Product VP, predicts increased adoption in 2024 due to Ripple’s partnerships with global banks. He highlights that banks are interested in tokenized assets and need secure and compliant solutions for smooth integration. Treccani’s expectations align with other companies like Vaneck and Bitwise, who have also shared their crypto predictions for 2024.

In a nutshell, he foresees a boost in crypto adoption as banks, supported by Ripple’s partnerships, explore tokenized assets while prioritizing security and compliance for seamless integration.

About B. Ali PRO INVESTOR

Live webinar speaker and derivatives (Forex, Crypto, and Indices) analyst with a broad range of skills for evaluating financial data, investment trends, technical analysis, fundamental analysis, and the best ways to strategies investment selection.  Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.