Bitcoin advocate and advisor to the president of El Salvador, Max Keiser, has sparked controversy with a recent tweet labeling various cryptocurrencies and NFTs as scams. Keiser has a history of criticizing altcoins and referring to them as securities. In his latest tweet, he escalated his critique by calling them scams and accusing them of selling “toxic garbage.” Keiser specifically targeted XRP, denouncing it as an unregistered security and supporting the SEC’s actions against it. This drew backlash from the XRP community, with John Deaton, an attorney representing XRP holders, arguing that XRP is merely software code and not a security. The regulatory landscape surrounding cryptocurrencies has become increasingly uncertain, with the SEC taking enforcement actions against companies like Ripple Labs and filing lawsuits against major exchanges like Binance and Coinbase. This has led to concerns and confusion among crypto businesses regarding the rules they need to follow. In response, various blockchain developers, such as IOG, Solana, and Polygon, have asserted that their native tokens do not fall under the securities category.
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