Popular bitcoin maximizer Max Keiser believes the SEC chairman Gary Gensler has enough technical and political tools at his disposal to make XRP and ETH a security.
“The SEC is working for a banking cartel, engaged in racketeering on behalf of financial entities. She is willing to invoke national security and patriotism if necessary to achieve her goal. Sure, the SEC is overreaching in many ways, but that won’t stop it from killing XRP or any other asset. Because there is virtually no rule of law on Wall Street and in finance for those with money and influence,” Keyser wrote
Keyser on his blog.
The crypto-enthusiast believes that the very fact that the fate of XRP and ETH is in the hands of regulators is already suggestive: these assets are too centralized and unable to survive without loss in the lawless and conflict-ridden environment in which the SEC operates.
The advisor to El Salvador’s president noted that a number of the SEC’s opponents are making counterarguments: software code, by definition, can’t be a security. However, Max Keiser considers this to be a weak and dead-end argument, because the functionality and purpose of the crypto-asset will play a major role in classifying it.
Recall that Solana (SOL), Cardano (ADA), Polygon (MATIC), Coti (COTI), Algorand (ALGO), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), Axie infinity (AXS) and Decentraland (MANA) were classified as securities according to the Commission. At the same time, the cryptocommunity had almost no reaction to this statement of the regulator. Moreover, a number of cryptocurrency platforms took the SEC statement as a guide to action and to avoid possible claims
delisting.