John Deaton, the attorney representing XRP token holders in the Ripple lawsuit against the SEC, anticipates potential U.S. approval for Bitcoin ETFs by late 2023. This prediction aligns with significant financial events such as Bitcoin Halving and pivotal Federal Reserve decisions expected in mid-2024. The alignment of these events could potentially trigger a sharp rise in Bitcoin's price, potentially reaching as high as $220,000 within 18 months, mirroring Max Keiser's predictions.
Deaton also foresees a significant overhaul in crypto regulations around 2025 due to changes in the U.S. presidential administration. Crypto influencer Wendy O shares this view, suggesting that the upcoming U.S. presidential election might shift the regulatory scope of the crypto industry around that time. Implementing these changes, however, will require an extensive legislative process involving the House, Senate, and President - a challenging scenario that may extend to late 2025 due to election year dynamics.
The attorney emphasizes that full approval of crypto bills, including a stablecoin bill, is likely by 2025 if a stable government is elected. This prediction comes at a time when Ripple executives Brad Garlinghouse and Chris Larsen are evading SEC charges, indicating an evolving regulatory stance on cryptocurrencies.
The changing landscape of cryptocurrency regulation will also be influenced by key personnel changes. Gary Gensler's term as SEC Chair culminates in June 2026, marking another significant milestone in this evolving field.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.