• The SEC vs Ripple case ended in a positive result for Ripple, with the judge ruling that XRP was not a financial security.
• Cryptocurrencies such as AltSignals gained traction as investors allocated funds to token sales.
• Falling US inflation could be another catalyst for cryptocurrencies, which could move below 1% in 2024.
SEC vs Ripple Case
A major concern among investors was about regulations in the US. The SEC filed a major lawsuit against Ripple Labs and its executives, alleging that Ripple violated capital raising laws and that the XRP coin was a token. On Thursday, the judge overseeing the case delivered a positive result for Ripple, ruling that Ripple Labs violated some laws and that XRP was not a financial security. This has major implications for how the SEC regulates digital currencies and could open up opportunities for financial services companies to add XRP into their ETF proposals.
AltSignals Token Sale
Cryptocurrencies received another dose of good news on Thursday when a judge made her ruling in the SEC vs Ripple case. As a result, investors also allocated funds to token sales, with the second stage of AltSignals gaining traction – 52% of stage 2 tokens were sold.
Falling US Inflation
Falling US inflation is also good news for cryptocurrencies such as AltSignals . Data published by the Bureau of Labor Statistics showed that headline consumer inflation plunged to 3%, the lowest level since March 2021. If this trend continues, it means that consumer inflation will move to the Fed’s target of 2.0% in the next few months and there is also a possibility that inflation will move below 1% in 2024.
Implications Of Ruling
The ruling on Thursday has major implications for how digital currencies are regulated by authorities like the SEC instead of blanket lawsuits which have been seen in recent times. Financial services companies can now add ripple into their ETF proposals which could open up more opportunities within cryptocurrency markets globally moving forward.
Conclusion
All in all, this new ruling has opened up many possibilities for digital currencies worldwide which could have positive effects both short-term and long-term depending on how much investor confidence is built over time with these new regulations being put into place globally