Ripple’s 2024 Crypto Predictions
Ripple Labs has shared its insights on the future of the crypto industry in 2024. The company invited its leaders to share their predictions on social media platform X. Stuart Alderoty, Ripple’s chief legal officer, made three predictions regarding crypto policy and U.S. crypto regulation.
The SEC’s Lawsuit Against Ripple
Alderoty predicts that by 2024, the SEC’s ongoing lawsuit against Ripple will finally come to an end. However, he also warns that the SEC will continue its campaign of regulation by enforcement against other industry leaders.
Courts as the Last Defense
Alderoty also predicts that judges will continue to act as the last line of defense against the SEC’s overreach. He believes that the SEC will continue to lose major issues in the courts, setting the stage for a potential showdown in the Supreme Court.
Differing Views on Crypto Regulation
When it comes to U.S. crypto regulations, Ripple’s chief legal officer expects Congress to agree in principle but disagree on the best course of action. This disagreement will result in a situation where U.S. crypto firms are left stuck while other countries make significant progress in the industry.
Ripple’s Senior VP of Product Predictions
Adrien Treccani, Ripple’s senior vice president of Product, also shared his predictions. He believes that the crypto industry is no longer seeking the approval of financial institutions as it once did. Instead, global banks and industry giants are actively searching for digital asset solutions to fulfill client demands for efficient, transparent, and on-demand financial services.
Continued Adoption and Partnerships
Treccani expects adoption rates to continue soaring in 2024, citing Ripple’s partnerships with various global banks. He notes that banks are experimenting with tokenized assets and need to do so within a framework of compliance, security protocols, and seamless integrations.
Industry Predictions
Ripple is not the only company to share predictions for the future of the crypto industry. Asset management firms Vaneck and Bitwise have also weighed in on what they anticipate for 2024.
Hot Take: Ripple Expects Challenges for U.S. Crypto Firms
Ripple predicts that U.S. crypto firms will face significant challenges as the SEC continues its crackdown and Congress struggles to agree on the best course of action for crypto regulation. This could potentially hinder the growth and development of the U.S. crypto industry while the rest of the world progresses.
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