Ripple Legal Chief Foresees Major Cryptocurrency Regulatory Shifts by 2024

By: Eliza Bennet

The Chief Legal Officer of Ripple, Stuart Alderoty, has delved into insights about potential transformations in the cryptocurrency landscape, specifically targeting 2024. Alderoty anticipates the resolution of Ripple's ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), potential shifts in crypto regulations driven by the judiciary, and looming legislative challenges.

In his forecast, Alderoty predicts a possible conclusion of Ripple's lawsuit with the SEC by 2024. He warns about the SEC's continued 'regulation by enforcement' strategy, noting possible implications for significant players within the cryptocurrency industry. The executive further predicts that a significant role in containing SEC overreach will be played by the judiciary, implying that current legal conflicts could potentially escalate into a Supreme Court showdown.

Alderoty also projects that while U.S. lawmakers will eventually agree on the need for a cryptocurrency regulatory infrastructure, disagreements over the specific measures to be implemented might prevent necessary action.

As it currently stands, Ripple has secured a partial victory over U.S. regulators, as programmatic sales of XRP do not qualify as a security offering. However, it is still expected that the SEC will challenge this decision, resulting in ongoing judicial confrontations.