Lawyers confidence Ripple will be most trusted source once regulation lift up

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As a seasoned observer and analyst in the ever-evolving world of cryptocurrencies, I find myself intrigued by the optimistic outlook expressed by Stuart Alderoty, Ripple’s General Counsel. His belief that Ripple will become the most trusted source for business in the United States once regulations become more crypto-friendly is not entirely far-fetched, given the potential of blockchain technology and the shifting sands of regulatory policy.

With favorable U.S. regulations, Ripple‘s legal team believes the company will establish itself as one of the most relied-upon sources in the American cryptocurrency market.

According to Ripple’s General Counsel, Stuart Alderoty, it is his conviction that Ripple will become a highly dependable business partner within the country in the near future, due to the pro-cryptocurrency stance taken by the Trump administration.

Under future administrations, it is anticipated that the cryptocurrency sector will see improved regulation and increased transparency in policies. This is a matter that has gained attention during Biden’s presidency.

Once the regulatory uncertainty in the U.S. clears up and we have a clear policy, we aim to become the most reliable provider of enterprise solutions for cryptocurrencies within the U.S.

Alderoty says on Psaros Center for Financial Markets and Policy event video posted on X.

Lately, Ripple has climbed up to the third-largest cryptocurrency by market capitalization. However, following a drop in XRP‘s value to approximately $2.33 at the present moment, it has been overtaken by Tether (USDT).

Despite being a significant player, Ripple has encountered numerous setbacks and struggled to expand over the past couple of years.

Ripple lawsuit case against U.S. agency

Over the last couple of years, Ripple has encountered several legal disputes with the Securities and Exchange Commission (SEC), initiated by the sale of XRP in 2020, deemed as an unregistered securities transaction.

Last July, the court ruled that XRP transactions weren’t classified as securities, because the XRP product didn’t fit the criteria of an investment contract. Yet, U.S. District Judge Analisa Torres imposed a fine of $125 million on the company, due to breaches in institutional sales regulations.

In October 2024, the commission opted to challenge the court’s ruling regarding the categorization of XRP, requesting a re-examination. This legal battle significantly impacted not just the company in question, but also the wider cryptocurrency sector as well.

Following Paul Atkins’ appointment as the head of the SEC, Ripple’s executive commended Donald Trump’s decision. Brad Garlinghouse referred to this selection as “excellent” and expressed hope that it marks the conclusion of the cryptocurrency restriction period.

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2024-12-06 09:38