Holy mother of everything!
Who Pushed the SEC to Drop the Ethereum Lawsuit, and Why Is Gary Gensler Still Targeting Ripple (XRP)?The SEC has closed its investigation into Ethereum, deciding not to pursue charges that ETH sales were securities transactions.
The XRP community is outraged, accusing the SEC of double standards and biased treatment.
SEC Ends Ethereum 2.0 InvestigationConsensys announced on Tuesday that the SEC’s Enforcement Division has concluded its investigation into Ethereum 2.0 without bringing any charges. The company shared the news on Twitter, highlighting that the SEC would not pursue allegations that sales of ETH constituted securities transactions. This development follows the SEC’s approval of Ethereum spot ETFs last month, a move that Consensys argued underscored ETH’s status as a commodity rather than a security.
https://www.crypto-news-flash.com/who-pushed-the-sec-to-drop-the-ethereum-lawsuit-and-why-is-gary-gensler-still-targeting-ripple-xrp/But it has not reflected with the value of Ethereum yet.
Ripple Labs is not happy though. They have been fighting against SEC for a long time and this probably hurts the feelings of those who are supporting them.
But I think this is still a great news. Perhaps the chance for SEC dropping the cases of XRP is near too and that will be the time to celebrate.
But who knows, if it's Gary Gensler, there's uncertainty with his decisions and if he really have a beef with XRP, it will take a long time unless someone fires that guy.