The SEC and Ripple Battle Are on the Agenda

The Bit Journal Editor
By The Bit Journal Editor 1 comment
4 Min Read

On Tuesday, January 10, 2023, Fox Business Senior Correspondent Charlie Gasparino warned that if the United States Securities and Exchange Commission (“SEC”) wins its pending case against Ripple, the crypto community will see a bloodbath covenant

As you may remember, on December 22, 2020, the SEC announced that it “filed a lawsuit against Ripple Labs Inc. Two of his princes, who are also important, claiming that they travel over $ 1.3 billions of non-recorded names.

On October 11, 2022, during DC Fintech week 2022, the session it expects of the condemns of the United States off the company stops on H1 203.

Only one network of the information listening to the XRP, charlie journalism, and first and Charles Payment and City XRP is like Brad Garden and John Deaton. Last Wednesday (January 4, 2023), Gasparino explained on Twitter that based on what he discovered, the reason why the SEC chose to sue Ripple Labs and not the Ethereum Foundation is that the latter will not sell chips just once, and stop.

Naturally, this explanation angered the XRP community who correctly pointed out that the Ethereum Foundation sold ETH on more than one occasion since the Ethereum ICO in the summer of 2014. This led Deaton to come to Garparino’s defense by saying that Gasparino was always trying to cover both sides of the story and that Gasparino was reporting what he heard from his SEC sources, and went on to say and there are even videos.

Evidence shows that Vitalik Buterin admitted that he sold ETH to the Ethereum Foundation two years after the ICO, which Deaton seems to mean that the case against Ripple “is not about securities laws”.

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SEC Lawsuit Against Ripple Could Mean More Regulations for Crypto Space: Garparino

Well, yesterday (10 January 2023), Garparino took to Twitter again to share his thoughts on this case. According to his tweet, he believes that if Ripple loses, there will be more regulations (or other types of supervision) that will affect every part of the crypto space, including crypto exchanges, as he believes the SEC chairman Gary Gensler sees all things cryptocurrencies. other than Bitcoin. as a name to be registered.

It is true that Bitcoin has a clear understanding of higher regulation in the US than Ethereum since former SEC Chairman Jay Clayton and current SEC Chairman Gary Gensler have repeatedly confirmed that they view Bitcoin as a more valuable than security and therefore outside their jurisdiction. Unfortunately, the same cannot be said for Ethereum.

Outside of what William Hinman, the former director of the SEC’s corporate finance division, said in a statement in June 2018, the SEC’s position is that it has never, in any form, been a commodity or a security. , that is, it is possible. (especially if Ripple Labs loses the lawsuit pending against it by the SEC in December 2020) and any day in the future, the SEC may decide to declare Ethereum a security, which may have a significant negative impact on its price since the crypto exchange in the United States must be removed. Jeremy Hogan, a partner at the US law firm Hogan & Hogan, sent the following response to Gasparino:

The SEC case was weak and negative from the start, Ripple put together the best security money could buy. Ripple is truly the Jet Li of the crypto world. If Ripple’s kung fu isn’t good, nobody is.


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