Rebecca Rettig, the chief legal and policy officer of Polygon Labs, is cautiously optimistic about the recent federal district court ruling in favor of Ripple against the SEC. She sees a "turning tide" for favorable regulatory conditions in the crypto industry, but recognizes that the ongoing proceedings are potentially far from resolved.

The case could either go to trial or be settled on the remaining issues, and an appeal by the SEC is unlikely at this stage. Jake Chervinsky, the Chief Policy Officer of the Blockchain Association, is more confident about the situation, but both agree that the industry must keep pushing forward.