Stuart Alderoty predicts the possible resolution of Ripple’s SEC lawsuit and U.S. lawmakers agreeing on the need for crypto regulations.
Ripple chief legal officer Stuart Alderoty has shared insights on the future of the cryptocurrency
landscape in 2024. He discussed predictions about Ripple’s legal dispute with the United States
Securities and Exchange Commission (SEC), the judiciary’s influence on crypto regulations and
potential legislative challenges in the U.S. Congress.
Alderoty predicts the possible resolution of Ripple’s lawsuit with the SEC in 2024, and he cautions
against the SEC’s persistent “regulation by enforcement” strategy, highlighting its potential consequences for the crypto industry.
Alderoty predicts a significant role for the judiciary in curbing SEC overreach, suggesting that
ongoing legal conflicts could escalate to a confrontation in the U.S. Supreme Court.
On regulations, Alderoty expects U.S. lawmakers to agree on the need for crypto regulations.
However, he expects a deadlock in implementation, which could leave U.S.
crypto firms vulnerable while other countries advance in regulatory clarity and innovation.
The SEC filed a lawsuit against Ripple Labs and its current and previous CEOs in 2020.
The SEC alleged that the executives held an initial public offering of XRP
, which it claims was an unregistered security at the time. According to the lawsuit, Ripple raised funds by selling XRP tokens in unregistered security offerings to investors in the U.S. and worldwide.