Vitalik Buterin and Ripple CTO engage in Twitter dispute over XRP

Vitalik Buterin and Ripple CTO engage in Twitter dispute over XRP

While Ripple executives claim the SEC has treated the company unfairly, Ethereum leader Vitalik Buterin hasn’t exactly been silent either. In a new tease, the latter accused the former of throwing Ethereum under the bus as “Chinese controlled”.

The latest dispute also began with a discussion about new regulatory changes in Canada with Ontario-based crypto exchanges Bitbuy and Newton imposing an annual 30,000 CAD “purchase limit” for “restricted currencies” for their users to use. “protect consumers” amid tougher regulations. , except for the altcoins: Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

That’s when Buterin stepped in and praised the Ethereum community for fighting back against regulations that privilege Ether over other legitimate crypto assets. When Bankless.eth founder David Hoffman responded by saying that he would not have said anything if XRP had been restricted by Ontario exchanges, Buterin scoffed and said:

“XRP already lost its right to protection when they tried to throw us under the bus as “Chinese controlled imo”.

Ethereum-Ripple fight

Buterin criticized Ripple for labeling Bitcoin and Ethereum as controlled by China in 2020. The founder then said that the blockchain company, currently embroiled in a fight with the SEC, had sunk to “new levels of strangeness.”

Needless to say, Buterin’s latest anti-XRP comment has gained significant traction that not even David Schwartz held back. Once again, Ripple’s CTO reaffirmed his company’s stance that Bitcoin and Ethereum are securities by comparing the miners of the two networks to the shareholders of eBay.

“The government should punish projects that don’t agree with our narrative” seems like a good mark for ETH. Also, I think it’s perfectly fair to compare miners in PoW systems to shareholders in companies. Just as eBay shareholders gain from the residual friction between buyers and sellers that eBay doesn’t eliminate, so do ETH and BTC miners.”

Schwartz then proceeded to ask Buterin if the market or the government should settle the debate.

Ripple demand

With no regulatory clarity in sight, the status of crypto assets has been a matter of controversy for years. The ongoing case of the US Securities and Exchange Commission (SEC) vs. Ripple provides a much-needed breakthrough for the industry.

The regulatory agency alleged that Ripple made an illegal security offer through XRP sales. However, the company has won several victories in its ongoing legal battle, while the SEC has been the subject of significant ridicule. This can potentially indicate that a verdict may be closer.

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