$ETH, $XRP are securities, maxkeiser claims
SEC attacks U.S. crypto exchanges
This year, the regulatory agency sent Coinbase a Wells notice, which is sent basically before taking an entity to court. The notice was sent in relation to Coinbase's staking services and crypto asset listing. Aside from Coinbase, the SEC cracked down on the U.S.-based Kraken exchange, claiming its crypto staking service harms investors.
As a result of the SEC activity against crypto companies, major crypto platform Bittrex chose to shut down its U.S. branch. Citing the lack of interest by the U.S. government in innovation and the lack of clear regulatory rules about crypto, the Bittrex U.S. team stated it would focus on helping Bittrex Global to succeed.
Aside from that, the SEC continues its long-standing lawsuit against Ripple Labs, which started in December 2020. The regulator asserts that the company, its cofounder Chris Larsen and current CEO Brad Garlinghouse have been selling millions of XRP tokens as unregistered securities and earning nearly $2 billion from it.
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