Regulation
What does crypto regulation have in store for us in 2024?
Even though the SEC may finally grant this windfall, the agency and its cousin, the Commodity Futures Trading Commission (CFTC), will likely continue their crypto enforcement agenda with high-profile cases. However, the biggest players, like Coinbase and Kraken, are already involved in the most relevant accusations, and these are currently being worked out in court. That leaves U.S. regulators in the same boat as the digital asset companies they target: everyone is just waiting for the courts to decide who is most right. The long-running dispute between the SEC and Ripple – which has widely opposed to the agency – will likely reach a first conclusion, from which the SEC can appeal the earlier court ruling that it partially abused its interpretation of the so-called Howey test to qualify XRP as security. If the SEC appeals, the judiciary’s response to this fundamental legal battle could last several more months.