Ripple's Court Win Could Boost Crypto Market, Says Bloomberg Reporter

Chris Dolmetsch a legal reporter from Bloomberg, thinks Ripple’s recent court victory might help the whole crypto market. He says this ruling could give Coinbase an advantage in its legal battle with the SEC.

The SEC sued Coinbase in June. They said Coinbase was working as an unregistered broker and clearing agency. Coinbase tried to stop the lawsuit, but the court said no. This was terrible news for Coinbase. But Elliott Stein, who studies lawsuits, thinks Ripple’s partial win might give Coinbase hope.

Ripple’s Mixed Victory

A court ordered Ripple to pay $125 million, which is much less than the $2 billion the SEC wanted. Ripple’s top lawyer, Stuart Alderoty, criticized the SEC for saying digital assets have no value. He told Ripple he could quickly pay the fine and was happy to move on.

But the case might not be over. Dolmetsch says the SEC could still appeal, prolonging the case. Some experts think the Ripple and Coinbase cases might go to the Supreme Court. A former SEC lawyer said these significant cases could end up in the highest U.S. court. This could lead to a ruling shaping how crypto is regulated for years.

A Turning Point for Crypto

The Ripple case is significantly impacting the crypto world. If Ripple and Coinbase win, it could help other crypto companies facing similar problems. But if they lose, it could mean stricter rules, making it harder for crypto businesses to work in the U.S. The industry is at a crucial moment, and these cases will likely affect its future for a long time.

Everyone in the crypto world is watching these cases closely. The outcomes could change how crypto companies operate in the U.S. and affect how investors view crypto. If Ripple and Coinbase win, more companies might enter the crypto market. This could also make investors feel more confident about investing in crypto.

But if they lose, it might scare off new companies and investors, slowing down the growth of the crypto industry in the U.S. Either way, these cases will help clarify the rules for crypto. This could benefit the industry in the long run, even if it causes short-term challenges.

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.