In a fresh spat on Twitter, Vitalik Buterin, Co-founder and CEO of Ethereum has accused Ripple executives of throwing Ethereum under the bus as “China-controlled”. Amid the online feud, ripple executives continue claiming that they are being treated unfairly by the United States Securities and Exchange Commission (SEC)
The latest feud started with a discussion of the new cryptocurrency regulations in Canada with Ontario-based exchanges imposing a 30,000 CAD annual purchase limit for their users to protect customers amid tighter regulations, except for altcoins – Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
Buterin stepped in here and praised the Ethereum ecosystem for pushing against the regulations that give Ethereum privilege over other legitimate digital assets. Bankless.eth founder, David Hoffman responded that he (Vitalik) wouldn’t have said anything if Ontario-based exchanges had restricted XRP. Vitalik replied that “XRP already lost their right to protection when they tried to throw us under the bus as “China-controlled imo.”
Vitalik blasted Ripple for labelling Ethereum as being controlled by China in 2020. Vitalik then said that Ripple which is currently embroiled in a legal battle with the SEC, had sunk to a new level of peculiarity. Vitalik’s latest anti-XRP comment has sparked debates that even David Schwartz could not hold back.
The Ripple CTO reaffirmed that his company still believes that Bitcoin and Ethereum-based are securities and he compared miners of the two networks to eBay shareholders. Schwartz the proceeded to ask Vitalik Buterin if the debate over the class of the asset should be decided by the market or the government.
With no regulatory clarity forthcoming, the status of crypto-assets has been a bone of contention for several years. The ongoing legal tussle between the United States SEC and Ripple is expected to provide much-needed clarity for the industry moving forward. A final court decision for the case is expected before the end of the year.
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