Ripple CEO Expects SEC to Lose Against Ethereum, Mirroring XRP Lawsuit Outcome

[sirty143]

Ripple CEO Expects SEC to Lose Against Ethereum, Mirroring XRP Lawsuit Outcome

Ripple’s chief executive believes the U.S. Securities and Exchange Commission (SEC) will be unsuccessful in classifying ether as a security, similar to how the agency lost its legal battle, for the most part, against XRP... See more for yourself here.

Your opinion is greatly appreciated.

[SamReomo]

They will have to accept that Ethereum isn't a security but a commodity just like Bitcoin. I'm very sure that SEC will lose against Ethereum in that case and they'll surely accept ETH as a commodity. SEC is always doing such dramas and they really don't want crypto-currencies to evolve to highest levels. However, I believe they'll finally accept ETH as community when they lose the court case.

[Tribalchief]

SEC is in the news again as expected. Personally, I think the SEC is doing their job as they are meant to do, but I also think that they are being overly zealous towards security and commodity matters. The SEC lacks the ability to make proper analyses and investigations before filing lawsuits. I think Garlinghouse is right because it's obvious that they are never going to win a case against ETH. We've now moved from the Bitcoin spot ETF drama to ETH ETP application drama. A disappointing failed lawsuit awaits them soon.

[joniboini]

The timing is really suspicious, I guess they need to probe the Ethereum Foundation because they need to approve another batch of ETH ETF in the future. I don't see any plan to launch a lawsuit against the Ethereum Foundation on the article. I don't think they will launch a lawsuit either. They will issue confusing statements when they postpone the approval deadline like they usually do. Basically, nothing new, correct me if I'm wrong. Even if they somehow backtrack and state that ETH is security, wouldn't that invite more trouble if the public and other governing bodies start questioning their past decisions?

[yhiaali3]

I hope Ripple CEO's predictions are correct, I would be very happy if the SEC loses all its cases, and it looks like it will.

They always make up meaningless problems, I remember that when they were in the fight against Bitcoin they were biased with Ethereum, but today they change their mind against Ethereum.

However, I expect that companies that are in the process of obtaining approval for an Ethereum ETF will push towards obtaining approval, as happened with Bitcoin, and they will obtain it in the end.

[Kemarit]

I hope Ripple CEO's predictions are correct, I would be very happy if the SEC loses all its cases, and it looks like it will.

They always make up meaningless problems, I remember that when they were in the fight against Bitcoin they were biased with Ethereum, but today they change their mind against Ethereum.

However, I expect that companies that are in the process of obtaining approval for an Ethereum ETF will push towards obtaining approval, as happened with Bitcoin, and they will obtain it in the end.

It's only his opinion though, but the thing is that there is already a precedent about it and so we will at the back of our minds, thinks that SEC will always lose it's case against crypto moving forward.

And I don't know why the leadership of SEC is more stingget with crypto, I guess it's really the pressure of Washington to SEC to come after all crypto as they deem it as a tool to be taken advantage by different individuals for crimes, but it is not obviously.

[Crwth]

With all the references in that article about ETH as a commodity, it can have a great chance of winning the lawsuit. The outcome of XRP has shaped how the law would work in the cryptocurrency space and with that we will see how it will go with ETH.

Maybe this is a move to buy more of ETH? With the upcoming possibility of ETF with ETH. Hmm 

[TomPluz]

They will have to accept that Ethereum isn't a security but a commodity just like Bitcoin. I'm very sure that SEC will lose against Ethereum in that case and they'll surely accept ETH as a commodity. SEC is always doing such dramas and they really don't want crypto-currencies to evolve to highest levels. However, I believe they'll finally accept ETH as community when they lose the court case.

SEC is just wasting its time with this case on Ethereum. What they should do is to look for so many other players in the market who can be suspicious including many scam type ones so they would not be victimizing people out of their hard-earned money. Going against something that has for years already proven itself not to be a security is just a plain example of SEC's arrogance and abuse of power. I am really hoping that Biden will be kicked out of the White House this November so they can pressure Gary Gensler and his minions to go somewhere else.

[SamReomo]

SEC is just wasting its time with this case on Ethereum.
~Snip~

I think I agree with your points, the SEC is just wasting their time and nothing else. Ethereum has been doing great for so many years and it's a type of ignorance to consider it as a security even after seeing the number of investors and its market cap.

They'll accept it as a commodity when they lose the case, so all we need is to wait for the victory of Ethereum. I'm also quite sure that Ethereum will win the case and will be accepted as a commodity after that.

[yhiaali3]

And I don't know why the leadership of SEC is more stingget with crypto, I guess it's really the pressure of Washington to SEC to come after all crypto as they deem it as a tool to be taken advantage by different individuals for crimes, but it is not obviously.

Pretty sure the whole operation is run by the US government, so they handed the SEC over to a guy who hates cryptocurrencies.

But recently it seems that the United States government has begun to change the game, as instead of attacking cryptocurrencies and trying to control them directly, it may have thought about seizing them indirectly through central ETF companies.

These companies are centralized and easy to control, so I would not be surprised if Ethereum gets approval as well.

[Zed0X]

SEC's alleged main argument is the transition to POS made them a security while the counter-argument is that it has been widely recognized as a commodity for years and changing the classification now doesn't make sense.

CFTC would likely stand in the way of SEC if they would actually file a case against the Ethereum Foundation. I like to see how that would unfold.

[Uruhara]

If the SEC suffers another defeat in court like they experienced when facing Ripple. Then this will make the SEC suffer a second embarrassment. And their reputation will start to be questioned. In my country, crypto and of course including ETH are commodity assets. And of course everything has gone through careful analysis and consideration. And in the US, ETH have actually considered a commodity, right? So now why is the SEC taking issue with it now? Why not just go all in when facing Ripple. If the problems with ETH are resolved there may be other altcoins that will have to prepare.