Bitcoin, Ethereum never declared untitled

[ad_1]

The SEC recently changed its 2018 ruling, declaring that Bitcoin and Ethereum had never been declared unsecured. According to recent testimony in the SEC v Ripple case, the regulator could open an investigation into Ethereum after an ongoing litigation. A U.S. government watchdog organization sued the SEC for handling the Ripple lawsuit.

The Securities & Exchange Commission (SEC) has revealed that cryptocurrencies such as Bitcoin and Ethereum have not been declared unsecured. The regulator will likely continue an investigation into Ethereum once the dispute with Ripple is over.

Supporters believe payments giant is closer to sec win over Ripple

US watchdog organization EMPOWR has sued the SEC over the regulator’s handling of the Ripple lawsuit.

EMPOWR (Empower Oversight Whistleblowers & Research) filed a complaint in the Eastern District of Virginia. The organization is a non-profit educational organization focused on independent oversight of government regulatory bodies.

The organization alleged that former SEC chairmen and regional office directors Jay Clayton, Marc Berger and Bill Hinman had a huge conflict of interest in the SEC v. Ripple.

In addition, the SEC kept several files in its case against Ripple, and EMPOWR requested access to it in accordance with the Freedom of Information Act. The watchdog believes these files contain details of former SEC presidents and officials who are biased against XRP.

The three SEC officials have left the regulator to join companies that deal or are associated with Bitcoin or Ethereum. In its ongoing litigation, supporters of the crypto community have accused the SEC of bias against payments giant Ripple.

With the new testimony in the SEC v Ripple case, it becomes clear that the regulator has yet to clarify its position on whether Bitcoin and Ethereum are securities or not.

Kevin Cage, cryptocurrency analyst and investor, is bullish on the XRP price. The analyst notes that altcoin is still in the top 10 after a year-long battle with the SEC and exchange write-offs.

I’m tired of retweeting XRP $ delisting messages

Can’t wait to see all re-registrations someday

Any other crypto asset would probably never survive this type of scrutiny. $ XRP on

Still in the Top 10 after a year of fighting the final boss (SEC).

To get closer.

– Kevin Cage (@Kevin_Cage_) December 13, 2021

FXStreet analysts valued XRP and predicted the price of altcoin to show an incoming breakout.

[ad_2]