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XRP News: The latest lawsuit against the KuCoin crypto exchange has spiked the uncertainty around Ethereum (ETH), world’s second largest crypto, nature. However, Attorney fighting for XRP holders in the US SEC Vs Ripple lawsuit came forward to back ETH over the emerging Security claims.
Ethereum To Be Considered As A “Security”?
As per reports, New York Attorney General Letitia James launched a lawsuit against KuCoin alleging that the exchange was dealing in unregistered securities and commodities. However, this claim has landed Ethereum under the radar of the US Financial watchdogs.
Attorney John Deaton, Amicus Curiae in the XRP lawsuit seems to be backing Ethereum here. He stated that ETH is not a security and if U.S. Securities and Exchange Commission (SEC) would have claimed this then he would have acted very early.
He stated that the regulators have gone out of control and retail holders need to speak for themselves now. John Deaton added that any Ethereum holder can sign up with him in order to take this matter to the court. Read More XRP News Here…
However, Ethereum price have declined to its lowest levels in the last two months. This happened after the attorney general alleged that ETH is a security.
The post XRP Lawyer Backs Ethereum Over Security Claims appeared first on CoinGape.
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