SEC’s ETH Probe Similar to China’s Bitcoin Ban: Ripple CTO

• The SEC’s dropping of an investigation into Ethereum has left many questions.
• Ripple’s legal chief slammed the agency for its regulation strategy.
• Ripple CTO compared the SEC’s decision to China’s ban/unban on BTC.

The U.S. Securities and Exchange Commission’s decision to drop its investigation into Ethereum (ETH) has created confusion within the crypto space regarding its approach to  regulation.

While the move propelled ETH prices above $3,400, it has left industry experts and investors puzzled on the future of crypto regulation in the United States.

A big win for Consensys, though questions remain. Does this mean the SEC thinks Consensys’ offers and sales of ETH are not securities transactions and/or that ETH itself is not a security? What will Gensler say if now asked? What is the status of MetaMask and staking?

This is…

— Stuart Alderoty (@s_alderoty) June 19, 2024

Stuart Alderoty, the Chief Legal Officer at Ripple, took to X (formerly Twitter) to express that the SEC decision has raised numerous questions for the crypto industry, adding:

“Does this mean the SEC thinks Consensys’ offers and sales of ETH are not securities trans…

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