XRP Gets Hammered / What It means for the rest of Crypto
I have to say being away out of crypto for a year after being vested into it since the start of Bitcoin gives you some unique perspective on things.
A year later and I see honestly that nothing has changed. Still confusing laws, bad reporting for tax filing and just a mess with the government.
As Bitcoins price and other crypto prices start to climb it's drawing much attention from governments yet again. This time the spotlight is again on XRP which was talked about being a security over 2 years ago. Since prices have gone up though it is not being talked about again and the SEC has now filed a lawsuit against XRP. It was honestly just a matter of time but I feel like they held out till the value climbed to "make it worth" their time.
So what does this mean for other cryptos?
At the moment the SEC director is classing Bitcoin and Ethereum as not securities. While I agree that Bitcoin could never be classed as one Ethereum which has become very popular this year due to staking rewards. However Ethereum did go through a buying process which could in theory mark it as a unregistered security like XRP is currently facing.
What are you thoughts on this?
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RIPPLE IS CENTRALIZED.
BITCOIN IS DECENTRALIZED.
Agreed the question is if Ethereum will be next since it did have a prelaunch phase such as XRP did and what that means for other cryptos that launched this way.
I mean, you're acting like these lawsuits are based on some sort of "impartial" coherent principle (hint: they're not).
calm it down lol
your right about them always waiting for price increases to start trying to FUD the market. Its ridiculous they way they they have lagged around playing games. Its too fudging late id be saying to the SEC, your too late XRP was like 7 or more years ago. Too feckin late, regulate the market completely or get lost.
That's the SEC for you. They know tons of shady crap goes on in other areas but they wait until the market caps get big enough so they get a nice big cut from it.