Stefan Thomas: Ripple a Scapegoat for the SEC?
Stefan Thomas, the former CTO of Ripple, believes that the U.S. Securities and Exchange Commission (SEC) targeted Ripple due to the actions of other crypto projects during the 2017 Initial Coin Offering (ICO) wave. In an interview, Thomas mentioned that the SEC’s lawsuit against Ripple was not solely about Ripple itself but the crypto industry as a whole. He suggests that Ripple was caught up in the SEC’s actions because of the behavior of other projects in the space.
Key Points:
– Ripple was not singled out by the SEC because of its own actions or the actions of the XRP community.
– Thomas hopes that Ripple will prevail in the lawsuit filed by the SEC.
– Thomas advocates for balance in the crypto industry and believes that there is a lack of sufficient regulations.
– He acknowledges the efforts of members of Congress such as Patrick McHenry, Glen Thompson, Lummis, and Gillibrand in proposing comprehensive regulations.
– Ripple, despite its attempts to follow regulations, is now under scrutiny, leaving many questioning the merits of playing by the rules.
Closing Paragraph (Hot Take):
Despite his experiences, Thomas remains hopeful about future reforms and suggests that people should be more aware of political backroom dealings and corruption, punishing those who engage in such actions in order to strive for a better society.
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