Bitcoin
$23,429.89
-632.79
(-2.63%)
Ethereum
$1,657.61
-44.15
(-2.59%)
Ripple
$0.41
-0.01
(-2.32%)
Litecoin
$99.80
-1.77
(-1.74%)
EOS
$1.09
-0.02
(-2.24%)
Cardano
$0.41
-0.01
(-1.77%)
Stellar
$0.09
-0
(-2.18%)
NEO
$8.87
+0.06
(+0.65%)
NEM
$0.04
-0
(-0.05%)
DigitalCash
$63.06
+0.36
(+0.57%)
Tether
$1.00
0
(0%)
Binance Coin
$332.50
+1.32
(+0.4%)
QTUM
$2.76
-0.05
(-1.81%)
Verge
$0.00
-0
(-1.97%)
Ontology
$0.22
-0
(-1.4%)
ZCash
$46.90
-0.71
(-1.49%)
Steem
$0.21
0
(+1.18%)

Vitalik Buterin Says Ripple and XRP Lost Their Right to Regulatory Protection Years Ago –

0


Ethereum (ETH) creator Vitalik Buterin says that Ripple and XRP lost their right to be protected by the crypto community from government overreach several years ago.

Buterin tells his 4.2 million followers that he’s happy to see Ethereum supporters voice their support against unfair crypto regulation that hurts legitimate projects.

“Glad to see Ethereum people pushing against regulations that privilege ETH over other legitimate cryptocurrencies.

(I have not dug into the details of what specifically is going on and to what extent. It’s a government thing vs. a compliance decision of one business, but either way…)”

However, Buterin says XRP is an exception to the rule, citing screenshots from Ripple that described Bitcoin (BTC) and Ethereum as “Chinese-controlled virtual currencies.”

“XRP already lost their right to protection when they tried to throw us under the bus as ‘China-controlled’ in my opinion.” 

Replying to Buterin’s criticism, Ripple CTO David Schwartz says that proof-of-work (POW) cryptocurrencies such as Bitcoin and Ethereum are reminiscent of private entities, implying that BTC and ETH resemble unregistered securities.

“Also, I do think it’s perfectly fair to analogize miners in PoW systems to stockholders in companies. Just as eBay’s stockholders earn from the residual friction between buyers and sellers that eBay does not remove, so do miners in ETH and BTC. 

Just as eBay stockholders want to leave as much friction between buyers and sellers as they can because that’s their revenue stream, so do miners in ETH and BTC. That’s part of why they have higher fees than XRPL.”

In late 2020, Ripple was sued by the U.S. Securities and Exchange Commission (SEC) for allegedly issuing XRP as an unregistered security.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/KDdesignphoto





Read More: Vitalik Buterin Says Ripple and XRP Lost Their Right to Regulatory Protection Years Ago –

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Notice: Undefined variable: ub in /home/c83w5hz05vw6/public_html/searchcryptonews.com/wp-content/plugins/elements-web-tracker-for-wordpress-W26ADT3-fkYtpIKq-03-15/diframework/ditools.php on line 650

Notice: Undefined variable: ub in /home/c83w5hz05vw6/public_html/searchcryptonews.com/wp-content/plugins/elements-web-tracker-for-wordpress-W26ADT3-fkYtpIKq-03-15/diframework/ditools.php on line 659

Deprecated: strripos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /home/c83w5hz05vw6/public_html/searchcryptonews.com/wp-content/plugins/elements-web-tracker-for-wordpress-W26ADT3-fkYtpIKq-03-15/diframework/ditools.php on line 659

Notice: Undefined variable: ub in /home/c83w5hz05vw6/public_html/searchcryptonews.com/wp-content/plugins/elements-web-tracker-for-wordpress-W26ADT3-fkYtpIKq-03-15/diframework/ditools.php on line 674

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.