Ripple’s legal battle with the US Securities and Exchange Commission (SEC) has been the subject of much discussion in the cryptocurrency community.
Amid this uncertainty, Bitcoin maximalists believe that XRP should be classified as a security. Among them was Max Keiser, who decided to “throw a stone” towards XRP.
Kaiser turned to SEC Chairman Gary Gensler, mentioning a video about the Ripple payment system. A bitcoin enthusiast claims that it illegally encourages the sale of unregistered securities. Kaiser believes that the list of Ripple violations requiring prosecution is very long, so the SEC should do something about it.
Lawyer John Deaton, representing the interests of XRP owners, responded to Kaiser, ridiculing him for his unhealthy interest in the crypto asset:
“In the last couple of days, Max has written about five or six tweets about XRP. He seems to have XRP on his mind 24 hours a day, seven days a week. In the coming weeks, I have to submit a legal case regarding XRP to the court, but I don’t think about this coin as often as you do.”
In August, Ethereum co-founder Vitalik Buterin also
expressed his dislike for the altcoin XRP. According to Buterin, XRP lost its right to protection from the Ethereum community when Ripple’s leadership claimed that Bitcoin and Ethereum were under Chinese control. Buterin’s words caused a huge discontent among XRP supporters. One of them, former US congressional candidate David Gokhshtein, is sure that despite the attacks on XRP, the number of supporters of this coin will increase.
Many industry participants are hoping for a successful outcome for Ripple. Even former Director of the Office of the Comptroller of the Currency (OCC) Brian Brooks believes that the SEC should not ban XRP trading in the US, as assets can change their nature depending on utility over time.
Source: Bits
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