The outcome of the Ripple case will affect the future of cryptocurrencies in the U.S., says Alderoty.

Ripple’s general counsel Stuart Alderoty has reacted to a recent Bloomberg article titled: “Fight to Regulate Crypto at Crossroads as Ripple Ruling Looms.” The article, published yesterday, explains how an upcoming Ripple v. SEC lawsuit ruling will determine which federal agency, between the SEC and CFTC, should regulate the industry.

Bloomberg, in reference to the lawsuit between the SEC and Rippe, said:

“An upcoming ruling in New York federal court could help determine the answer, along with the fates of numerous crypto investors and companies. The case hinges on whether a prominent digital token should be treated as a security, which would fall under the Securities & Exchange Commission’s jurisdiction.” 

(By Lele Jima)