24/7 Cryptocurrency News

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

Prominent XRP community member Bill Morgan criticized the SEC for its unequal treatment of Ethereum and Ripple.
Published by
XRP Community Lashes Out As SEC Gives Free Pass to Ethereum On Security Status

Highlights

  • XRP community fumes as SEC withdraws security lawsuit against Ethereum ahead of ETF approval.
  • Bill Morgan criticized the SEC for its unequal treatment of Ethereum and Ripple.
  • Analysts want Ripple to sue the SEC and others involved for three years of legal stress.

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.

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.

Advertisement

Share
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.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Will Bitcoin Reverse to $115K Max Pain Price amid Crypto Options Expiry Today?

Bitcoin surges above $120K following massive capital inflows into the crypto market in response to…

October 3, 2025
  • 24/7 Cryptocurrency News

Cardano Gets 100 Million User Exposure With Brave Integration, Whales Scoop 70M ADA

Cardano announced its integration with self-custody crypto wallet Brave, which gives native cryptocurrency ADA exposure…

October 3, 2025
  • 24/7 Cryptocurrency News

Japanese Gaming Firm Gumi to Boost Treasury With BTC, XRP After $38M Raise

Japan’s gaming and blockchain leader, Gumi Inc., has revealed plans to strengthen its balance sheet…

October 3, 2025
  • Altcoin News

BNB Leads Crypto Market Rally With Fresh All-Time High, Expert Sees $5000 Upside

BNB, the native cryptocurrency of Binance, has seen a strong 8% upside, hitting a new…

October 3, 2025
  • 24/7 Cryptocurrency News

Billionaire Ray Dalio Calls Bitcoin “Alternative Money” as BTC Profit-Taking Tops $3.7B Amid $120K Rally

Billionaire hedge fund manager Ray Dalio has touted Bitcoin as “alternative money” as it continues…

October 3, 2025
  • 24/7 Cryptocurrency News

Canary Litecoin ETF Delayed Due to Government Shutdown, What’s Next?

The U.S. Securities and Exchange Commission (SEC) has missed its final deadline on the Canary…

October 3, 2025