U.Today - Ripple Labs Inc. CTO David Schwartz has a thought-provoking question to the United States Securities and Exchange Commission (SEC) over the security status of Ethereum (ETH).
Rhetorical inquiry about Ethereum
Taking to his official X handle, Schwartz responded to a post from the SEC in which the commission the community to always revert to its own channels for news that pertains to its regulatory affairs.The SEC's counsel comes after a piece of broke about the commission approving the iShares Bitcoin spot ETF application from BlackRock (NYSE:BLK). In the SEC's words, investors need to be careful what they read on the internet, noting that "the best source of information about the SEC is the SEC."
Drawing on this, the Ripple CTO asked the SEC if it thinks people selling Ethereum on secondary marketplaces are selling securities. This question is highly impractical to answer over social media as it constitutes the core of what the ongoing Ripple v. SEC legal battle as well as other trading platforms is all about.
To date, only XRP has been certified as an altcoin whose trading on secondary marketplaces does not constitute a security. This clarity was obtained after more than two years of litigation, with the decided by Judge Analisa Torres in July.
Based on the complexity of the question, any answer given by the market regulator will spark another round of curiosity that it obviously cannot afford at this time.