- The SEC recently changed its 2018 decision, declaring that Bitcoin and Ethereum were never declared non-securities.
- According to recent testimony in the SEC vs. Ripple case, the regulator could open an investigation into Ethereum after ongoing litigation.
- A US government oversight organization has sued the SEC for handling the Ripple lawsuit.
The Securities & Exchange Commission (SEC) has revealed that cryptocurrencies such as Bitcoin and Ethereum have not been declared non-securities. The regulator is likely to pursue an investigation into Ethereum once the litigation with Ripple ends.
Proponents believe the payment giant is closer to a win in the SEC v. Ripple case
US oversight organization EMPOWR has sued the SEC for the regulator’s handling of the Ripple lawsuit.
EMPOWR (Empower Oversight Whistleblowers & Research) filed the lawsuit in the Eastern District of Virginia. The organization is a nonprofit educational organization focused on independent oversight of government regulatory agencies.
The organization alleged that former SEC chairs and directors of regional offices, Jay Clayton, Marc Berger and Bill Hinman, have a massive conflict of interest in the SEC v. Ripple case.
Further, the SEC has maintained several records in its case against Ripple, and EMPOWR has asked for access to the same in line with the Freedom of Information Act. The watchdog believes that these records have details of former SEC chairs and officials biased against XRP.
The three SEC officials have left the regulator to join companies that deal in or are associated with Bitcoin or Ethereum. In its ongoing litigation, the crypto community’s proponents have accused the SEC of bias against the payments giant Ripple.
With the new testimony in the SEC v Ripple case, it becomes clear that the regulator is yet to clarify its stance on whether Bitcoin and Ethereum are securities or non-securities.
Kevin Cage, a cryptocurrency analyst and investor, is bullish on XRP price. The analyst notes that the altcoin is still in the top 10 after a yearlong battle with the SEC and exchange de-listings.
I'm tired of retweeting $XRP de-listing posts
— Kevin Cage (@Kevin_Cage_) December 13, 2021
Can't wait to see all the re-listings someday
Any other crypto asset would probably never survive this type of scrutiny.$XRP the
Still in Top 10 After One Year of Battling the Final Boss (SEC).
Getting closer.
FXStreet analysts have evaluated XRP and predicted that the altcoin’s price shows an incoming breakout.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Shiba Inu eyes positive returns in April as SHIB price inches towards $0.000015
Shiba Inu's on-chain metrics reveal robust adoption, as addresses with balances surge to 1.4 million. Shiba Inu's returns stand at a solid 14.4% so far in April, poised to snap a three-month bearish trend from earlier this year.
AI tokens TAO, FET, AI16Z surge despite NVIDIA excluding crypto-related projects from its Inception program
AI tokens, including Bittensor and Artificial Superintelligence Alliance, climbed this week, with ai16z still extending gains at the time of writing on Friday. The uptick in prices of AI tokens reflects a broader bullish sentiment across the cryptocurrency market.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week. This week’s rally was supported by strong institutional demand, as US spot ETFs recorded a total inflow of $2.68 billion until Thursday.
XRP price could renew 25% breakout bid on surging institutional and retail adoption
Ripple price consolidates, trading at $2.18 at the time of writing on Friday, following mid-week gains to $2.30. The rejection from this weekly high led to the price of XRP dropping to the previous day’s low at $2.11, followed by a minor reversal.
Bitcoin Weekly Forecast: BTC consolidates after posting over 10% weekly surge
Bitcoin (BTC) price is consolidating around $94,000 at the time of writing on Friday, holding onto the recent 10% increase seen earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.