Ripple Executive Mentioned That There Will Be Some Changes Next Year.

Stuart Alderoty shared his predictions for the year 2024.

Ripple's Chief Legal Officer, Stuart Alderoty, shared his expectations for the cryptocurrency space in the year 2024. Alderoty believes that Ripple's legal dispute with the U.S. Securities and Exchange Commission (SEC) will be resolved in 2024. Additionally, he criticized the SEC's "regulation through enforcement" policy, drawing attention to the potential impact of this approach on the crypto industry.

Alderoty expressed his belief that the judiciary will play a significant role in preventing the SEC's excessive claims of authority. Emphasizing that this process could go up to the U.S. Supreme Court, Alderoty is optimistic that regulators will come to an agreement on the need for cryptocurrency regulations.

In 2020, the SEC filed a lawsuit against Ripple Labs and its current and former CEOs, alleging that the company offered XRP, an unregistered security, to the public. Ripple achieved a victory against the SEC in July of the previous year, with the judge ruling that the sale of XRP on exchanges did not constitute a securities offering. However, the judge also deemed the sale of XRP to institutional investors as a securities offering.

This legal victory contributed to an approximately 83% increase in the value of XRP since the beginning of the year. Nevertheless, some crypto analysts and community members argue that legal disputes have hindered Ripple's growth. Ripple-supporting lawyer John Deaton claims that the case is being used as a weapon.