U.S. Securities and Exchange Commission (SEC), bitcoin and Ethereum announced that cryptocurrencies such as cryptocurrencies are not declared non-securities. It seems likely that the regulator will conduct an investigation into Ethereum after the lawsuit with Ripple is settled.
US inspection agency EMPOWRsued the regulator over the SEC’s handling of the Ripple case. EMPOWR (Empower Oversight Whistleblowers & Research) filed the lawsuit in the Eastern District of Virginia. It is a not-for-profit educational organization that focuses on the independent oversight of government regulatory agencies.
EMPOWR, ex SEC Presidents and directors of regional offices Jay Clayton, Marc Berger and Bill Hinman Ripple He claims there is a major conflict of interest in his case. This is not a new agenda item. The names mentioned before XRP It was alleged that he had profited from the lawsuit. E.g; Clayton’s previous law firm once represented the co-founders of Ethereum. In addition, Hinman was allegedly a board member of the Enterprise Ethereum Alliance of former law firm Simpson, Thacher & Bartlett.
Briefly, three SEC officials, bitcoin or Ethereum left the SEC to join companies that deal with or are associated with. In its ongoing lawsuit, advocates of the crypto community have accused the SEC of being biased against payments giant Ripple.
In addition, EMPOWR requested access to the records the SEC kept in its case against Ripple under the Freedom of Information Act. These records are believed to contain information on former SEC heads and officials with a bias towards XRP.
Besides these Ripple With the new wording in his lawsuit, it appears that the SEC has yet to clarify its stance on whether Bitcoin and Ethereum are securities or non-securities.
SEC attorney: “I don’t want to be overly technical, but [SEC] He did not take any action to say that Bitcoin is not a security, that Ether is not a security.” well The US Securities and Exchange Commission (SEC) has confirmed that it has not officially declared Bitcoin and Ethereum non-securities.
Finally, crypto analyst and investor Kevin Cage, XRP optimistic about the price. The analyst points out that the altcoin is still in the top 10 after a year-long battle that started with its removal from exchanges.
I’m tired of retweeting $XRP de-listing posts
Can’t wait to see all the re-listings someday
Any other crypto asset would probably never survive this type of scrutiny.$XRP the🐐
Still in Top 10 After One Year of Battling the Final Boss (SEC).
Getting closer.
— Kevin Cage (@Kevin_Cage_) December 13, 2021
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.