There is a good chance that a solution will be found to Ripple’s lawsuit against the SEC. This lawsuit has been going on for several years. It is in this context that Ripple’s General Counsel warned of the impact of this decision on the future of cryptocurrencies in the US.
Stuart Alderoti warns of the impact of the Ripple vs. SEC court verdict on the future of cryptocurrencies.
Who has the right to regulate cryptocurrencies?
This is a question that pits the SEC against crypto industry players. Responding to a Bloomberg article on the matter, Stuart Alderothy, chief legal officer at Ripple, said: “No matter how you analyze it, experts agree. The outcome of the Ripple case is likely to have a significant impact on the future of cryptocurrencies in the United States. »
According to DailyHodl, he allegedly stated that: “There is a misconception that players in the crypto space don’t want regulation and I think responsible players in the crypto space do want regulation. The reason they want regulation [est parce que] it’s good for their business, it’s good for their customers, it’s good for the markets. This can be done with clear rules.
Clear rules applied consistently lead to predictable results, and predictable results are good for everyone. If you do not know what the law requires, you cannot keep the law. And inconsistently applied law leads to unpredictable results. »
What is the future of Ripple after the Ripple lawsuit against the SEC?
There is a high probability that the verdict on the Rippel lawsuit against the SEC will be known before the end of the first half of 2023. Ripple is currently the sixth largest cryptocurrency by market capitalization. According to Coinmarketcap, it will be about $20 billion. In addition, Ripple is getting a lot of support from users and the crypto community. So, in response to Alderothy’s tweet, the Crypto Asset Guy responded, “To all crypto holders: if you’re not rooting for RIPPLE, you don’t deserve to be in crypto.”
Since 2020, when Ripple’s lawsuit against the US stock market police began, the cryptocurrency has held its own. If the lawsuit ends in her favor, will Ripple be able to achieve a capitalization equivalent to that of Ethereum?
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