SEC’s Treatment of XRP and Ethereum Under Scrutiny Amid New Allegations of Favoritism

Pressure Mounts on Gensler to Release IG Report as New Letter Exposes XRP’s Unfair Treatment and Ethereum’s Free Pass

In a stunning revelation, an anonymous letter has surfaced, shedding light on the SEC’s (Securities and Exchange Commission) alleged favoritism towards Ethereum while treating Ripple’s XRP unfairly. The development comes at a time when calls to release an inspector general report are intensifying, sparking intense scrutiny over the regulatory body’s actions.

The latest controversy stems from an unprecedented 2018 speech by William Hinman, the former Director of the SEC’s Division of Corporation Finance. During his address, Hinman declared that Ethereum’s digital token, Ether, was not a security, causing its price to surge instantly. However, this favorable treatment stands in stark contrast to the SEC’s aggressive stance on Ripple’s XRP, which it accuses of being an unregistered security.

The letter raises questions about Hinman’s potential financial conflicts of interest and whether his comments had a significant impact on the cryptocurrency market. The revelation has sparked outrage among Ripple enthusiasts and investors, who feel that their assets are being unfairly targeted.

Meanwhile, the call to release the inspector general report has gained momentum, with many demanding transparency into the regulatory body’s actions. Critics argue that such secrecy only serves to fuel skepticism about the SEC’s impartiality in handling cryptocurrency-related cases.

It remains unclear whether the regulator will accede to these demands or continue to maintain its secrecy regarding the matter. Nevertheless, one thing is certain – the pressure on Gensler to release the report has never been greater.

Source: coinpedia.org