Cryptocurrency industry’s future is on the line
Ripple General Counsel Stuart Alderoty Believes 2022 Could Be Game-Changing for the Future of Crypto in the US Barely three months into 2022, Alderoty is in no doubt that this could be the year all eyes will be on crypto regulation.
The cryptocurrency industry’s future is on the line, he argues, with 2022 being billed as the year of crypto legislation. The cryptocurrency sector has made remarkable growth in the last year, nearly quadrupling in value while also reaching significant acceptance milestones.
He went on to say that while technological advancements are often met with opposition, the reality is that economic competitors outside the United States are rapidly embracing digital assets, blockchain-enabled real-time payments, and digital currencies from banks. power plants (CBDC).
Ripple has drawn up a framework meant to offer an immediate way forward that accommodates the dynamism of digital assets in a pragmatic approach to thoughtful regulation. Ripple was formed in 2012 to improve cross-border payments around the world using blockchain technology and cryptocurrencies.
Latest Ripple SEC Trial Updates
According to the latest updates released by defense attorney James K. Filan, the SEC has filed its response to Ripple’s motion to strike Metz’s supplemental expert report. Advocate for XRP Jeremy Hogan expresses surprise at latest SEC ruling, hinting at delaying tactics.
Ripple earlier moved to strike an “impermissible” rebuttal report written by securities and finance expert Dr. Albert Metz, who has worked for the U.S. Department of Justice and who submitted his original report on Oct. 4. He conducted an event study to determine whether or not Ripple was able to manipulate the price of the XRP token with its announcements. He concluded that “certain news and public statements” did influence the token’s performance.
In December 2020, the SEC filed a lawsuit against Ripple Labs and two of its executives. The complaint alleges that Ripple raised $1.3 billion in funds, as of 2013, through the sale of digital assets known as XRP in unregistered securities.
