John Deaton believes SEC would have been 'wrong' if it had labeled ETH security XRP XRPArmy XRPCommunity XRPHolders XRPthestandard
, believes the SEC would have been wrong if it had labeled ETH as security. The reason he gives is that ETH, like XRP, is an alphanumeric code."If the SEC labeled ETH itself a security, it would be wrong."
In December 2020, the Securities and Exchange Commission filed a lawsuit against Ripple Labs, alleging the company and its executives sold $1.3 billion worth of XRP in an unregistered securities offering. In the ongoing litigation, Ripple argues that XRP should not be classified as a security, which would subject it to more regulatory scrutiny.At the center of Ripple's lawsuit is the speech made by former SEC official William Hinman in 2018 stating that ETH was not a security.
He added,"Some fear Gensler will go after ETH because of the growing pressure calling for an IG investigation." The other reason some believe Gensler might go after ETH is to try and mitigate the claim that the SEC is choosing winners and losers through"selective enforcement."
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