In a current put up on the X social media platform, Ripple CEO Brad Garlinghouse has predicted that the U.S. Securities and Change Fee (SEC) is on observe to lose its “conflict” in opposition to Ethereum (ETH).
Based on Garlinghouse, the SEC is already “dropping badly” within the court docket whereas falling under worldwide counterparts by way of regulatory requirements.
Earlier this week, numerous media retailers reported that the SEC has launched an aggressive marketing campaign to label the second-largest cryptocurrency as a safety. The Ethereum Basis can also be dealing with an ongoing investigation.
As reported by U.At this time, Paul Grewal, chief authorized officer at Coinbase, took a stand in opposition to “misinformation” surrounding Ethereum, pointing to the truth that the altcoin has been very important to the broader crypto financial system.
He has additionally talked about numerous inconsistencies within the SEC’s method to regulating Ethereum as a safety.
Garlinghouse himself has talked about that the SEC is now additionally combating different regulators just like the CFTC on prime of the SEC.
Earlier this month, two United States senators penned a letter to Gary Gensler, urging the SEC to not approve extra ETFs for different cryptocurrencies.
Some authorized analysts imagine that the SEC is now attempting to appease some cryptocurrency skeptics in Washington.
Stuart Alderoty, chief authorized officer at Ripple, now says that Congress ought to cease funding “this madness.”