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Crypto Market Chatter and Coinbase CEO Brian Armstrong Speech

Over the weekend, there was no court activity, but the US crypto regulatory landscape became the topic of conversation in the crypto market. One notable event was the speech given by Coinbase CEO Brian Armstrong at Mainnet 2023. During his speech, Armstrong discussed the political space and regulatory landscape, emphasizing the need for the crypto industry to enhance its lobbying efforts and political power for the upcoming 2024 election.

A key aspect of Armstrong’s speech was the mention of the website standwithcrypto.org, which Coinbase helped create. The aim of the website is to unite the entire crypto community, including crypto users and companies, to support candidates who are pro-technology, pro-builders, and pro-innovation. Armstrong made it clear that any government candidate who does not align with these values should be voted out of office.

Armstrong also highlighted the bills progressing through the House and stressed the importance of the industry making its voice heard. This indicates a growing recognition within the crypto market of the significance of political involvement and advocacy.

AI legalese decoder can play a crucial role in this situation by helping individuals and companies navigate the complex legal language and requirements in the crypto regulatory landscape. By using AI-powered tools, such as AI legalese decoder, individuals can gain a better understanding of regulations, enabling them to make informed decisions and effectively participate in the political process. This tool can analyze legal documents, extract relevant information, and provide clear explanations, making the legal landscape more accessible to all stakeholders in the crypto industry.

US Presidential Election Impact on the US Crypto Market

The ongoing legal battle between Ripple, Coinbase, and the Securities and Exchange Commission (SEC) has kept the US crypto market on edge. However, late 2024 might bring significant changes to the market due to the US Presidential Election.

Crypto advocates anticipate a favorable outcome for the US digital asset space if the Republican Party wins the election. This victory would mean SEC Chair Gary Gensler stepping aside, potentially ending the era of regulation by enforcement.

Another factor affecting the crypto market is the SEC’s decision to pursue an interlocutory appeal in the SEC v Ripple case. If the motion is granted by Judge Analisa Torres, the case would be put on hold until the appeal process is completed, which lawmakers estimate could take more than a year. This extended timeline could coincide with the US Presidential Election, further influencing the regulatory environment for digital assets.

However, the outcome of the SEC v Ripple case might become inconsequential if Judge Katherine P. Failla grants Coinbase’s motion to dismiss. In this scenario, Crypto-Law US founder and Amicus Curiae attorney John E. Deaton believes that the SEC would likely settle. The resolution of this high-profile case could significantly impact the future legal and regulatory landscape for cryptocurrencies.

In light of these uncertainties, XRP, the cryptocurrency at the center of the SEC v Ripple case, is expected to remain range-bound until there is more clarity and progress in the court proceedings.

XRP Price Action

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