Last Updated on September 25, 2023 by Bitfinsider
Steven Nerayoff, a former advisor to the Ethereum Foundation, was all praise for the community of XRP holders for remaining loyal to the cryptocurrency during tough times. He made the remark with clear reference to the Ripple dispute, in which US judge Analisa Torres had rendered a historic decision in a recent Summary Judgement. Partially, Ripple gained from the ruling that the sale of XRP tokens to retail customers was not considered a security.
The Ethereum advisor emphasised that regulatory obstacles have caused the community to face challenging times. While the US federal prosecutors withdrew the prosecution against Nerayoff, the SEC filed a lawsuit in the last quarter of 2020 against Ripple’s purported sale of XRP coins as securities. Assigned to assist a firm with its initial coin offering (ICO), he was charged with extortion of cash. “I am astonished at how you have come together to fight. I have been in more communities than most and never seen such a dedicated yet civil one like XRP,” he added.
Nerayoff had recently levelled several accusations concerning problems surrounding the Ethereum initial coin offering (ICO) in 2014 and corruption at the U.S. Securities and Exchange Commission (SEC). He had further asserted that his accusations were supported by documents. John Deaton, the lawyer for thousands of holders of XRP tokens in the Ripple v. SEC case, also attested to having seen the documents Nerayoff purports to possess. In fact, the lawyer had hinted that there may be additional disclosures.
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