While the SEC clarified that Bitcoin isn’t a security, it didn’t say anything about XRP and it was unclear about ETH. This is why people have been asking; is Ethereum a security? Is XRP a security? Now, the SEC has announced that it is looking for a cryptocurrency securities expert per the report on CoinDesk.
The U.S. Securities and Exchanges Commission, published a job posting on USAJobs. Per the job posting, it is looking for another cryptocurrency specialist who has the experience required to address the security status is cryptocurrencies like XRP and ETH. Per the job posting the candidate will “apply knowledge of federal securities laws to digital asset securities and crypto matters, i.e., broker-dealer, exchange, clearing agency and transfer registrations, exchange product applications, sales and trading practices, etc.”
XRP (XRP) Price Today – XRP / USD
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Is Ethereum A Security? Is XRP A Security?
Some ICOs that were found guilty of selling unregistered securities got their verdict a few days ago. To the surprise of many, the verdict was less serious than expected. The SEC simply asked the offenders to pay a fine and refund investors with interest. Some ICOs didn’t pay any fine at all. So, even if the SEC declares XRP and ETH securities, this doesn’t automatically mean it’s the end for both cryptocurrencies. Sure, there might be a panic sell-off at the time but it’s not going to have any permanent long-term adverse effect as long as Ripple and Ethereum are willing to corporate with the SEC and follow its recommendations.
The two most common questions in the cryptocurrency space at the moment are; is XRP A Security and is Ethereum a security. As the cryptocurrency market starts to recover against the USD, digital asset investors are becoming more interested in the security status of cryptocurrencies. No one wants to get into trouble with the SEC. After a recent verdict by the SEC against ICOs, however, it became clear that the XRP and ETH SEC saga may not be a problem as we imagined. Source: Smartereum
SEC Chairman Affirms Stance that Ethereum (ETH) is Not a Security, Could XRP be Next?
According to the news of atozcrypto; The Securities and Exchange Commission’s (SEC) Chairman reaffirmed his agency’s previous stance that Ethereum (ETH) is not a security product, and as such it falls under different regulatory structure that is far more crypto-friendly. He also added that cryptocurrencies similar to Ethereum are also exempt from being classified as securities – although he didn’t name any specific cryptos.
Although this is certainly positive for Ethereum investors, it doesn’t come as a big surprise, and the cryptocurrency that investors are most interested in hearing what the SEC’s thoughts on is XRP – the cryptocurrency most commonly associated with FinTech company Ripple.
“Overall, I believe we have taken a balanced regulatory approach that fosters responsible innovation in this area, while also protecting investors and the markets,” Chairman Clayton explained while referencing the application of federal securities laws to digital assets.
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