Ripple Reveals 2024 Crypto Predictions: SEC Crackdown to Continue, Regulation Will Hinder US Crypto Firms
Ripple has shared several crypto predictions for 2024. The firm’s chief legal officer expects the U.S. Securities and Exchange Commission (SEC) to continue its crackdown on the crypto industry. In addition, he foresees U.S. Congress disagreeing on the best course of action for crypto regulation, “leaving U.S. crypto firms stuck while the rest of the world makes significant positive strides.”
Ripple’s 2024 Crypto Predictions
Ripple Labs shared several crypto predictions for 2024 on social media platform X Friday. “We’ve asked leaders at Ripple to weigh in on what they think 2024 holds,” the company explained.
The firm’s chief legal officer, Stuart Alderoty, made three predictions concerning crypto policy and U.S. crypto regulation. Firstly, he predicted: “In 2024, the last bit of the SEC’s misguided lawsuit against Ripple will finally come to an end.” However, he warned:
The SEC’s campaign of regulation by enforcement will continue against other industry leaders.
Secondly, he predicted: “Judges will continue to be the last line of defense against the SEC’s overreach, and the SEC will continue to lose major issues in the courts — setting the table for a showdown in the Supreme Court.”
Alderoty’s third prediction concerns U.S. crypto regulations. The Ripple chief legal officer shared his expectations:
Congress will agree in principle on crypto regulation but will disagree on the best course of action, leaving U.S. crypto firms stuck while the rest of the world makes significant positive strides.
Adrien Treccani, Ripple’s senior vice president of Product, also shared his predictions on Friday. “As the industry looks to leave behind the problems it experienced during 2023, a new paradigm is emerging. The crypto industry isn’t courting financial institutions as it once was. It doesn’t need to,” he detailed. Secondly, he explained: “Global banks and industry giants are actively seeking digital assets solutions to satiate client demand for efficient, transparent and on-demand financial services.”
He also predicted: “In the last year, we’ve announced partnerships with several global banks, and in 2024 we expect adoption rates to continue to soar.” Moreover, he said: “Banks are experimenting with tokenized assets, and need to be able to do so with confidence, inside the framework of strict compliance and security protocols, as well as smooth integrations.”
Several other firms have shared their 2024 crypto predictions, including asset management firms Vaneck and Bitwise.
What do you think about the 2024 crypto predictions shared by Ripple? Let us know in the comments section below.
