Decoding the SEC’s Ripple to Ethereum regulatory shift
In a recent interview with Thinking Crypto, Bill Hughes, the Senior Counsel and director of Global Regulatory Matters at Consensys, discussed Ethereum and the confusion surrounding the SEC’s stance on it. There are concerns about potential subpoenas to the Ethereum Foundation and the impact it may have on Ethereum users and the market. The Ripple case was also mentioned, highlighting the ongoing legal battle and the recent ruling that XRP is not inherently a security depending on how it is handled and distributed.
Ethereum, Ripple, and the SEC: Understanding the Future of Cryptocurrency Laws
The interview delved into the differences between Ripple and other cases involving crypto regulations. The court focused on the Howey test in the Ripple case, which analyzes individual transactions to determine their status as securities. In contrast, other cases considered broader schemes beyond specific transactions, creating uncertainty for industry stakeholders. Without clear limitations, the SEC could classify various crypto activities as securities, raising concerns about excessive authority in the industry.
Bill Hughes called for clearer legislation to provide consistent regulation for the crypto industry. He emphasized the need for meaningful legislative action to prevent continued ambiguity in crypto regulation. The question remains whether policymakers will take decisive action to establish coherent policies for the industry in the future.
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