XRP Community Lashes Out As SEC Gives Free Pass to Ethereum On Security Status

Just before the approval of the spot Ethereum ETF, the US SEC decided to suspend its lawsuit challenging Ethereum’s security status. While the Ethereum community is certainly cheering the development, it hasn’t gone well with the XRP community which has come lashing out against the SEC for its biased approach.

XRP Community Slams SEC for Its Biases

Bill Morgan, a prominent member of the XRP community has come lashing out at the US SEC while calling out the unequal treatment between Ethereum and Ripple. Morgan has highlighted that Ethereum received a second pass from the SEC nearly six years after the Hinman speech, which provided clarity on the non-security status of Ethereum. He further stated that the different treatment for ETH and XRP highlights the SEC’s arbitrary approach towards crypto regulations.

Ethereum’s second free pass from the SEC almost exactly 6 years after the Hinman free speech.

Ethereum’s and Ripple’s different treatment will forever show how arbitrary the SEC has been in crypto. https://t.co/Coxf6czO9r pic.twitter.com/WNcacVYhNE

— bill morgan (@Belisarius2020) June 19, 2024

Some also argued that since Ethereum is decentralized, why did the SEC have to write a letter to ConsenSys in the first place? Morgan stated that decentralized is all a made-up factor and no one has ever explained how it categorizes whether a token is a commodity or a security.

Analyst Calls Ripple to Sue the SEC

Pseudonymous analyst @digitalassetbuy has voiced strong criticism against the SEC’s regulatory actions, while contrasting them with the treatment received by Ripple.

The analyst pointed out that Ripple had spent over $100 million so far to deal with the SEC’s regulatory issues over the last three years, unlike Ethereum. Thus, the analyst labeled the government’s actions as criminal suggesting the top Ripple executives – Brad Garlinghouse and Chris Larsen – to file a lawsuit against the SEC and others involved while calling it the ETHGATE.

One positive development in the XRP lawsuit could be that the SEC might reduce the $2 billion fine on Ripple. Any positive development could kickstart the XRP price rally towards $1.

✓ Share:

• Recommended
• Price Analysis

• SEC’s Paul Atkins Pushes for On-Chain Capital Raising Without Uncertainty
• SEC Delays Decision On Staking For BlackRock’s Ethereum ETF
• SEC Delays Decision on Franklin Templeton’s Solana and XRP ETFs
• BNB Hits New ATH As Binance Partners With $1.6T Franklin Templeton
• Crypto Market, S&P 500 Rally as PPI Data Fuels Rate Cut Hopes

• Pump Price Forecast as $12M Buyback Fuels Scarcity — Is $0.01 in Sight?
• SUI Price Prediction as Mysten Labs Meets SEC Ahead of ETF Decision—Is $7.5 Next?
• Can Dogecoin Price Hit $1 as Derivative Volume Jumps Ahead of DOGE ETF Launch
• Bitcoin Price Prediction Eyes $150K as Trump Calls for Aggressive 100 BPS Rate Cut
• Solana Price Prediction: Can Nasdaq Listing and $94M Holdings Propel SOL Toward $400?

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.