- Ripple President Monica Long submits a series of predictions for 2024’s crypto industry.
- Long predicts that the industry will witness increasing adoption and integration in 2024.
- She anticipates that the industry will break the speculative hype cycles before the next crypto summer.
Ripple President Monica Long, in a series of predictions for 2024, asserted that the crypto industry would witness the “breakout moment” of increasing adoption, highlighting the significance of regulatory compliance. With Monica Long’s predictions, Ripple pursues its initiative of drawing insights from the major leaders of the platform regarding their thoughts about 2024.
Long strongly believes that the crypto space will be able to break the “speculative hype cycles that have defined the booms and busts” before the next “crypto summer.” She asserted that the break will be achieved with compliance, usability, and integration with the current systems.
She also pointed out the importance of regulatory compliance, especially in this long crypto winter. Reflecting on the regulatory challenges that Ripple has faced over the past few months and its repercussions, Long stated,
In 2024, it’s not enough to be compliance-conscious – the industry must be compliance-first to keep our customers and users safe, gaining back the trust we’ve lost following some major industry blowback. The industry needs to build compliance tooling in a decentralized environment. It’s the next frontier of innovation in blockchain.
According to the Ripple President’s predictions, the finance sector will embrace more blockchain-integrated projects in 2024, adding to the previous year’s groundbreaking projects. The multinational payment card services Visa partnered with the crypto exchange Huobi to issue the Huobi Visa Card, integrating crypto payment services into traditional finance.
In a similar set of predictions, Ripple’s Chief Legal Officer, Stuart Alderoty, predicted the Securities and Exchange Commission’s (SEC) more stringent regulatory policies in 2024, warning that the regulators might follow a “regulation by enforcement” strategy. The lawyer also shed light on the substantial role of the judicial system in tackling the autocratic power of the SEC.
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