CoinGapeNews

SECs Ripple Lawsuit Brings Ethereum’s Asset Status Under Scanner Again

The SEC vs Ripple Lab lawsuit took an interesting turn on April 6th when Ripple counsel requested access to SEC’s internal documents discussing around Bitcoin and Ethereum’s Asset status. The judge granted the favor despite SEC protesting against it, leading many to believe that XRP might pass the test as well which made SEC declare ETH token as non-security.

In January we asked “How does the SEC explain telling the public that BTC and ETH are not securities, then turning around and alleging the opposite is true for XRP?” https://t.co/8KVBuSi1i7
Perhaps we’ll start to get some answers now.
— Stuart Alderoty (@s_alderoty) April 6, 2021

SEC in its lawsuit has claimed that Ripple violated security laws by offering XRP tokens without registering it under Section 5 of the Securities Act. The regulatory agency claimed that XRP tokens are offered in the form of an investment contract making it liable under securities law.
However, Ripple’s legal counsel argued that the definition of ‘investment contract’ is not definitive and the fact that SEC allowed for Bitcoin and Ether transactions made them think XRP didn’t violate the securities law either.
Would Ether’s (ETH) Asset Status Come Under Scanner Again?
The SEC back in 2018 claimed that Ether is not seen as a security since the network is decentralized enough. There were a lot of discussions around Ether pre-mine and what made the SEC deem ETH token as non-security despite a pre-mine, to which William Hinman, the former SEC …
Story continues on CoinGape

Related posts
Banking RegulatorBinance.usBitcoin.comBlake PaulsonBrian BrooksCatherine ColeyCoinbaseCryptoCrypto ComptrollerExchangesNewsOCCOffice of the Comptroller of the CurrencyregulatorUS Binance

Former Comptroller of the Currency Brian Brooks to Lead Binance’s US Trading Platform

A former top regulator and acting head of the U.S. Comptroller of the Currency, Brian Brooks has been appointed the CEO of crypto exchange Binance.us. Brooks will lead the exchange on May 1st and replace the company’s current lead, Catherine…
AltcoinsAnalysisHideCryptopanicNewsNews 1Trading View

Cardano Price Analysis: 20 April

Cardano’s price has seen rangebound price movement for more than a month. While the surge that took place at the start of February did seem promising, the coin hasn’t been able to replicate such uThe post Cardano Story continues on…
AltcoinsAnalysisHideCryptopanicNewsNews 1SocialTrading View

Uniswap Price Analysis: 20 April

A lot of the gains Uniswap was able to register in the past month were undone as bearish pressure overwhelmed the crypto market a few days back. While many of the altcoins were quick to recover, UNI?The post Uniswap Story…