Vitalik Buterin and Ripple’s CTO Engage in Twitter Spat Over XRP

While Ripple executives claim that the company has been unfairly treated by the SEC, Ethereum frontman Vitalik Buterin has not been completely silent either. In another jibe, the latter accused the former of throwing Ethereum under the bus as “China-controlled.”

The latest feud also kicked off with a discussion of new regulatory changes in Canada with Ontario-based crypto exchanges – Bitbuy and Newton – imposing a CAD 30,000 annual “buy limit” on “restricted coins” for their users to “protect consumers” amid tightened regulations. , apart from altcoins – Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).

This is when Buterin stepped in and praised the Ethereum community for pushing for regulations that privilege Ether over other legitimate crypto assets. When Bankless.eth founder David Hoffman responded by saying he wouldn’t have said anything if Ontario exchanges had limited XRP, Buterin scoffed back, saying:

“XRP already lost the right to protection when they tried to throw us under the bus as ‘China-controlled imo.’

Ethereum Ripple Feud

Buterin slammed Ripple for labeling Bitcoin and Ethereum as controlled by China back in 2020. The founder then said the blockchain company, which is currently embroiled in a battle with the SEC, had sunk to “new levels of weirdness.”

Needless to say, the latest anti-XRP comment from Buterin has gained significant traction that even David Schwartz didn’t hold back. Once again, Ripple CTO reconfirmed the company’s stance on Bitcoin and Ethereum as securities while comparing miners in the two networks to shareholders in eBay.

“The government should punish projects that disagree with our narrative” seems pretty good for ETH. Also, I think it’s perfectly fair to analogize miners in PoW systems to shareholders in companies. Just as eBay’s shareholders profit from the residual friction between buyers and sellers that eBay does not remove, so do ETH and BTC miners.”

Schwartz then went on to ask Buterin whether the debate should be decided by the market or the government.

Ripple lawsuit

With no regulatory clarity in sight, the status of cryptoassets has been a bone of contention for years. The ongoing US Securities and Exchange Commission (SEC) vs. The Ripple case is expected to provide a much-needed breakthrough for the industry.

The regulatory agency alleged that Ripple was conducting illegal security offerings through the sale of XRP. However, the company claimed several victories in its continuing legal battle while the SEC has been on the receiving end of significant scorn. This could potentially indicate that a verdict may be closer.

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