The Legal Battle Between SEC and ethereum

The ongoing legal dispute between the United States Securities and Exchange Commission (SEC) and ethereum (ETH) has garnered significant attention in the cryptocurrency community. Many experts have weighed in on the potential outcomes of this case, adding layers of complexity to the already intriguing situation.

Ripple CEO’s Optimistic Prediction

Ripple Labs’ CEO, Brad Garlinghouse, recently shared his optimistic views on the SEC’s legal battle with ethereum. He made a bold prediction in favor of the ethereum ecosystem, suggesting that the SEC is likely to face defeat in its efforts to classify ethereum as a security. Garlinghouse highlighted the history of the SEC’s legal battles within the cryptocurrency industry, emphasizing their previous losses in court.

He noted that the SEC’s struggles have put them at a disadvantage compared to other regulatory bodies, such as the United States Commodity Futures Trading Commission (CFTC). Garlinghouse raised the question of when the SEC would realize the futility of their attempts to regulate ethereum similarly to how they dealt with XRP.

Recent developments, like Coinbase’s certifications with the CFTC and the potential impact on bitcoin Cash, Dogecoin, and Litecoin futures, may influence the SEC’s stance and their ongoing legal battles.

Ripple‘s Legal Victories Against The SEC

Ripple has already secured partial victories in its lawsuit against the SEC, with a judge ruling that XRP‘s sales did not meet certain legal criteria. The SEC’s request for an appeal was also denied, further complicating the regulatory landscape for cryptocurrencies.

The prolonged legal dispute between Ripple and the SEC, stemming from allegations of unregistered securities sales, is expected to culminate in a grand trial by April 23. This trial could have significant implications for both the regulatory environment and the broader cryptocurrency industry.

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ETH trading at $3,489 on the 1D chart | Source: ETHUSDT on Tradingview.com



### News source: bitcoinist.com

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