- SEC has helped Ethereum to surpass Ripple.
- SEC has been pursuing Ripple over claims that XRP is an unregistered security
- In 2017 December, XRP found to be the 2nd largest crypto asset.
Brad Garlinghouse, chief executive of Ripple has been expressing his thoughts about the crypto market and regulations. And his regret over the financial regulator’s approach to Ethereum appears to have surfaced. He felt that SEC has helped Ethereum to surpass Ripple and it becomes the 2nd largest crypto in the crypto market, which is unfair.
Accordingly, the boss of Ripple mentioned that Ethereum had allowed outperforming his company’s XRP token, spoke during DC Fintech Week virtual conference on October 21st.
More so, U.S. Securities and Exchange Commission (SEC) has been pursuing Ripple over claims that XRP is unregistered security. In January, Ripple filed a Freedom of information Act request with the SEC demanding to know why it didn’t consider ETH security. After six months in July, a district judge enables the company to depose a former SEC official. Who declared in 2018 that ETH was not a security.
Ripple chief executive, Brad Garlinghouse felt that Ripple has hard done by and Ethereum’s subsequence success is at least in part down to more favorable treatment by the Securities and Exchange Commission (SEC). Garlinghouse mentioned,
“Within the last few years, XRP was the second most valuable digital asset. As it became clear the SEC had given a hall pass to ETH, ETH obviously has kind of exploded and that clarity has helped.”
In 2017 December, XRP was found to be the 2nd largest crypto asset by market capitalization. But at present, it has dropped to seventh place while Ethereum has secured second place.
Furthermore, Garlinghouse has mentioned, the SEC has been taking a serious posture against crypto. With recent actions against his own company and Coinbase.