US Securities and Exchange Commission (SEC) sued by Rippleemphasized that he was actually worried that the whole industry could face similar lawsuits, rather than compensation of 1.2 billion dollars. Ripple CEO Brad Garlinghouse made a statement on this issue at the very beginning and called the entire crypto money industry to his side. Despite this, the expected support from the sector did not come and it is seen that this support has not come at the moment.
SEC Made Friends
Now, instead of rushing to the aid of Ethereum co-founder Joseph Lubin, Ripple of the SEC appears to be in its favour. In a recent interview, Lubin stated that SEC Chairman Gary Gensler is trying to regulate the overall cryptocurrency industry.
Lubin, the founder and chairman of Ethereum development studio ConsenSys, stressed that the SEC has many “legitimate arguments” and they are being discussed. Lubin has also previously opposed arguments that XRP is not a security. Stating that the SEC has taken steps regarding regulation for the time being, the famous name reminded that the institution did not try to “block innovation” and stated that he found the lawsuit justified.
Ripple previously told the SEC, “If you see XRP as a security, Ethereum is a security and should investigate.” made statements. That’s why it’s no surprise that ETH makes statements on the SEC side.
Because the head of the SEC recently said that many altcoins are in the securities category, and it was signaled that we could see the case against Ripple for many altcoins.