After apologizing to the crypto community for disrespecting those who joined the early altcoin train, Peter Brandt still keeps track of things that XRP is a security.
“There will be more challenges of this kind under the new SEC chair. I think XRP is a security, but that shouldn’t stop me from owning it on the right occasions. ”
Brandt, a longtime critic of Ripple, is known to have asked the US Securities and Exchange Commission to classify XRP as security less than two months before the actual lawsuit. He also accused the company of manipulating the price of the controversial cryptocurrency.
The SEC claims that Ripple made $ 1.38 billion from the illegal sale of XRP and used the proceeds to fund its business.
Regulators also sued CEO Brad Garlinghouse and former CEO Chris Larsen after Garlinghouse, who once claimed to be on the “HODL” side, made $ 150 million from his XRP sales while Larsen pocketed $ 450 million.
The defendants, in turn, argued that the SEC was misleading with its disorganized approach to regulating cryptocurrencies. Ripple puts its hopes on the protection of the “fair announcement” and at the same time urges the agency to deliver documents on Bitcoin, Ether, and XRP.
Despite the successful speech by former senior official William Hinman, the SEC has yet to take a position on Ether’s regulatory status.
Brandt doesn’t believe that Ether is secure because its structure is entirely different.
Before that, an inside source that the SEC had talked to Charles Gasparino of Fox Business, said Ether is a commodity because its ecosystem is “pre-engineered.” At the same time, SEC chairman Gary Gensler told the New York Times that both Ether and XRP should be classified as stocks.
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According to U.today