{"id":452825,"date":"2020-12-22T12:55:32","date_gmt":"2020-12-22T12:55:32","guid":{"rendered":"https:\/\/uniquehot.com\/?p=452825"},"modified":"2020-12-22T12:55:32","modified_gmt":"2020-12-22T12:55:32","slug":"buterin-blasts-ripples-defence-against-pending-sec-lawsuit","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/buterin-blasts-ripples-defence-against-pending-sec-lawsuit\/","title":{"rendered":"Buterin Blasts Ripple’s Defence Against Pending SEC Lawsuit"},"content":{"rendered":"

It finally happened. After years of uncertainty on the matter, the SEC is taking decisive action against Ripple. The point in question is whether Ripple’s native XRP token is a security<\/a> or not.<\/p>\n

Late yesterday, Ripple CEO Brad Garlinghouse<\/a> said the SEC has made a determination, and they plan to bring action accordingly.<\/p>\n

Under U.S securities law, firms must register with the SEC before selling securities. A move that Ripple did not comply with.<\/p>\n

Tweeting about the situation, Garlinghouse<\/a> called this an attack on the entire crypto industry, not just Ripple. He then went on to say that the action is inconsistent with the stance held by other G20 nations. And, as previously mentioned<\/a>, he maintains the position that this is harmful to the U.S.<\/p>\n

“The SEC – out of step with other G20 countries & the rest of the US govt – should not be able to cherry-pick what innovation looks like (especially when their decision directly benefits China). Make no mistake, we are ready to fight and win – this battle is just beginning.<\/span>“<\/p><\/blockquote>\n
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Today, the SEC voted to attack crypto. Chairman Jay Clayton – in his final act – is picking winners and trying to limit US innovation in the crypto industry to BTC and ETH. (1\/3) https:\/\/t.co\/r9bgT9Pcuu<\/a><\/p>\n
— Brad Garlinghouse (@bgarlinghouse) December 22, 2020<\/a><\/p><\/blockquote>\n