The SEC is no longer scary, says Ripple lawyer

Stuart Alderoty, general counsel at Ripple, makes a remarkable statement: the crypto world is shaking off its fear of the SEC.

Alderoty’s latest statement, recently published in the Wall Street Journal, comes at a time when the industry faces ongoing legal challenges and regulatory uncertainty.

The SEC Campaign Against Cryptocurrencies

As the world moves towards 2024, the SEC’s campaign to regulate the crypto sector is entering its seventh year with no end in sight. In this journey, often described in regulatory circles as an “eternal war,” the SEC is battling key players in the crypto market.

Regulatory battle in a dynamic sector

Legal experts such as Jan Folena of Stradley Ronon emphasize the inevitable duration of this regulatory battle, especially in an industry as dynamic and unprecedented as the cryptocurrency market. Despite strong opposition from heavyweights like Coinbase, Binance, and Kraken, the SEC has an impressive track record of enforcement actions, paving the way for crucial legal battles that could significantly shape the future of crypto regulation.

Crypto Outlook for 2024

As U.Today reports, the lawyer’s forecast for 2024 paints a picture of an industry still navigating turbulent regulatory waters. Alderoty awaits the conclusion of the legal battle between Ripple and the SEC, but warns that broader regulatory relief is not expected.

Lawsuits and possible deadlock in Congress

He sees a crucial role for the judiciary in limiting the reach of the SEC, potentially leading to a showdown at the Supreme Court. However, Alderoty also warns of a possible impasse in Congress over the regulation of cryptocurrencies, which would leave US companies in a potentially vulnerable position.

Source: BtcDirect

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