The demand for a robust crypto regulation framework has increased since the latest SEC vs. Ripple ruling. The court confirmed that XRP is not a security (read more about recent Ripple news here). Meanwhile, Galaxy Digital chief Mike Novogratz trusts the judge’s decision may welcome fair digital asset laws.
Novogratz comments on crypto regulation
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Billionaire Mike Novogratz mentioned that the latest XRP win was a massive victory for Ripple and the cryptocurrency community. He added that the ruling indicated that Gary Gensler lied about the existence of fair crypto rules.
Novogratz believes the Ripple win sent a message to the SEC chair, the White House, and Democrats to ensure fair rules within the digital asset space. Nonetheless, more legislation is essential considering the complexity of the market, according to the judge.
Galaxy Digital CEO added that the current US status quo will not work for the SEC. The commission will have to assess each token they wish to prosecute separately. Moreover, appealing against Ripple will take years.
Analysts predict an upcoming rally.
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While market players await clear crypto regulations from the SEC, analysts remain optimistic about the market, forecasting an upcoming bull run. @JefferyCrypt picked XRP, Bitgert, and Cardano as the hottest tokens for a rally.
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