Prominent crypto payment firm Ripple has set the stage for the outlook of the upcoming year with a series of bold predictions from its top leaders.
Stuart Alderoty, Ripple’s chief legal officer, opened the floor. He offered three bold forecasts on the state of policy and U.S. crypto regulation in 2024.
Similarly, Adrien Treccani, Ripple’s senior vice president of products, made four predictions on the evolving landscape of crypto partnerships and adoption.
Ripple took to X to share the predictions.
#2024Predictions — It’s that time of year again and we've asked leaders at Ripple to weigh in on what they think 2024 holds. ?
Our Chief Legal Officer @s_alderoty kicks us off with three bold outlooks on policy and U.S. crypto regulation for 2024. pic.twitter.com/7pcLmk2qPR
— Ripple (@Ripple) December 15, 2023
End of Misguided Lawsuit
According to Alderoty, 2024 will mark the conclusion of the U.S. SEC’s case against Ripple, which he has described as a “misguided lawsuit.”
Emphatically, the Chief Legal Officer expressed confidence that the last chapter of the protracted legal battle would unfold in 2024.
However, Alderoty noted that the SEC’s broader strategy of regulation through enforcement would persist. According to him, the targets would be other industry leaders.
Judges Will Remain Last Line of Defence
Also, Alderoty’s predictions foresee the U.S. judiciary playing a crucial role in resisting the SEC’s overreach. According to him, judges will continue to act as the final bastion against regulatory excesses.
Moreover, the prominent lawyer stated that the SEC would continue to face defeats in major legal battles. This trend, he believes, will culminate in a potential showdown in the Supreme Court.
Congressional Gridlock on Crypto Regulation
Furthermore, Ripple’s Chief Legal Officer foresees a challenging landscape on the legislative front. Alderoty argued that while U.S. Congress may agree in principle on the need for crypto regulation, he predicts a lack of consensus on the best course of action.
He predicted that this disagreement within the legislative body could leave U.S. crypto firms in limbo while other nations globally make significant strides in advancing their regulatory frameworks.
Crypto No Longer Needs Traditional Institutions’ Validation or Partnership
Meanwhile, Adrien Treccani, Ripple’s senior vice president of products, foresees a paradigm shift in crypto industry dynamics for 2024.
#2024Predictions—@AdrienTreccani, SVP Product pic.twitter.com/7qGb2T5J4T
— Ripple (@Ripple) December 15, 2023
Treccani observes a fundamental shift in the crypto industry’s approach toward financial institutions. Unlike in the past, when the industry actively courted these institutions, there is now a discernible departure from that narrative.
Treccani asserted that the crypto sector has reached a point where it no longer requires the validation or partnership of traditional financial institutions to thrive.
Moreover, he highlighted that major global banks and industry giants proactively seek digital asset solutions. According to him, this shift is driven by the rising client demand for financial services that are efficient, transparent, and accessible on demand.
Additionally, Treccani noted the shifting trend wherein banks are actively engaging in experiments with tokenized assets. However, he emphasized the necessity for such experimentation within strict compliance and security protocols.
Besides, Treccani highlighted Ripple’s achievements in 2023, citing partnerships with several global banks. Looking forward to 2024, he expresses confidence in the continued momentum of adoption rates within the industry.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
