While XRP’s fate is undecided yet, a similar legal action against Tether would be a major blow to other major. Since the SEC hit Ripple Labs with the charges of selling unregistered securities, the cryptocurrency community has been wondering what does this move mean. Some argued it was a huge sign that US regulators are set to ramp up oversight of the cryptocurrency space as Bitcoin surges to uncharted highs.
The Securities and Exchange Commission has largely cracked down on ICOs and similar crowdfunded token sales, but as XRP is classified by the SEC as a security, then the question is: which crypto asset could face the same fire?
While a number of cryptocurrencies and similar assets are under speculation, Bitfinex Tether CTO, Paolo Ardoino has stepped in to assuage concerns and said there is no evidence the SEC is coming after them, too.
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