Ethereum

<p>A recent statement from Ripple CEO Brad Garlinghouse has sent shockwaves through the crypto ecosystem. By openly supporting Ethereum against the SEC’s stringent classifications, Garlinghouse is not just defending a digital currency; he is laying a cornerstone in the debate over the legitimacy and future of cryptos as independent financial instruments.</p>
<h2 id="h-the-boldness-of-taking-a-stand">The Boldness of Taking a Stand</h2>
<p>The recent stance by <a href="https://www.cointribune.com/tag/brad-garlinghouse/" target="_blank" rel="noopener noreferrer nofollow">Garlinghouse</a> is not merely a simple endorsement of Ethereum. It represents an open criticism of the SEC’s approach, which he sees as stifling crypto innovation.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>By calling Gary Gensler, chairman of the SEC, an “unethical character,” he highlights the growing tensions between crypto giants and regulators.</p>
<p>Garlinghouse’s defense is rooted in a personal and professional battle, with Ripple itself in the SEC’s crosshairs since the 2020 accusation that classified XRP as a security.</p>
<h2 id="h-a-strategic-alliance-in-the-crypto-universe">A Strategic Alliance in the Crypto Universe?</h2>
<p>By supporting Ethereum, Garlinghouse aims at several targets. He is not only seeking to clarify Ripple’s legal situation but also to form a coalition. This coalition opposes regulations seen as arbitrary in the crypto industry.</p>
<p>This alliance is strategic. It bolsters the arguments against classifying cryptos as securities, a status that would bring additional regulatory restrictions and obligations.</p>
<p>In this legal and media battle, Consensys stands out. As a key player in Ethereum’s software development, the company vigorously defends ETH’s non-classification as a security.</p>
<p>Furthermore, their recent legal action against the SEC for abuse of power reinforces this position. It builds on earlier SEC statements that exempted ETH from such regulation.</p>
<h2 id="h-the-counterbalance">The Counterbalance</h2>
<p>Amid this wave of support, Steven Nerayoff, a former advisor to Ethereum, emerges as a dissenting voice. Describing Ethereum’s crypto as “unquestionably” a security.&nbsp;</p>
<p>As reported by <a href="https://coinpedia.org/news/ripple-ceo-continues-backing-ethereum-claiming-eth-and-xrp-as-non-securities/" target="_blank" rel="noopener noreferrer nofollow">Coinpedia</a>, his comments inject a dose of realism into this spirited and polarized debate. Nerayoff’s perspective reminds us that the road to a clear legal and regulatory definition is fraught with challenges.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<p>The regulatory evolution around Ethereum is not just limited to statements and lawsuits. The possible approval of an ETF based on this crypto would be a major validation, although experts like Justin Sun and Eric Balchunas are skeptical of its short-term realization. Balchunas’s estimate of a 25% probability for the approval of this ETF illustrates <a href="https://www.cointribune.com/en/ethereum-etf-sec-weighs-the-pros-and-cons/" target="_blank" rel="noopener noreferrer nofollow">the SEC’s caution</a>, which remains a thorn in the side of the sector’s rapid development.</p>

Crypto: Ripple CEO supports Ethereum against the SEC

Spis treści

Cointribune EN

Inne artykuły opublikowane 6 maj 2024

CFTC Chairman Rostin Behnam’s Significant Crypto Currency Statements: Impact on Bitcoin (BTC) and...

Bitcoin Price Surges and Market Insights After the Halving

Cardano: Forget $1, ADA is in danger of falling to $0.40

Less Than 10% of Stablecoin Transactions Form Real Users: Bloomberg Report

10-Year-Old Bitcoin Wallet Suddenly Transfers $43.89M—What’s Behind This Move?

Expecting the Rise in Bitcoin to Continue, Provincial Capo Announced the Two Altcoins in which it...

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!