Today, the court made a critical decision in the SEC v. Coinbase case. Although the court found Coinbase partially right, it rejected the request to dismiss the case. Thus, it decided to continue the SEC and Coinbase case. Various reactions to this decision continue to come. Vocal Bitcoin maximalist Max Keiser had an interesting reaction. Keiser agrees with the SEC on all non-Bitcoin cryptocurrencies and stands by it.

Keiser backs SEC against Coinbase and altcoin projects

Cryptocoin.comAs you have been following, there was an important development in the SEC and Conbase case today. The court rejected Coinbase’s request to dismiss the case. Although the judge agreed with Conbase on some issues, this decision brings problems for the exchange. Different reactions to this decision continue to come. Although the crypto world generally finds the SEC unfair, there are not contrary voices. One of them is Bitcoin evangelist and financial journalist Max Keiser.

Max Keiser comments on the latest news regarding the court’s denial of Coinbase’s motion to dismiss the SEC lawsuit. Meanwhile, the exchange also achieved a partial win. That is, the court agreed to remove the Coinbase Wallet from the list of subjects of the SEC’s lawsuit. Keiser told his army of followers that all cryptocurrencies other than Bitcoin are “unregistered securities.” This included Bitcoin maxis, leading altcoin projects XRP and ETH. In this context, Keiser shared a series of posts in the form of “SEC is right”. Keiser wrote, “The SEC is right. Anything that is not Bitcoin is an unregistered security, including ETH and XRP.”

SEC’s guillotine on cryptocurrencies!

Coinbase faced charges from the SEC in the summer of last year for allegedly allowing users to trade unregistered securities. According to the SEC, almost all altcoin projects are securities. The SEC has only declared Bitcoin a commodity. Recently, however, there has been renewed debate within the SEC over whether Ethereum, the leading altcoin, is indeed a commodity. All Bitcoin maximalists, including Max Keiser and Samson Mow, claim that ETH is a security.

XRP is the subject of one of the SEC’s important lawsuits. The SEC’s lawsuit against Ripple over the coin has been ongoing since December 2020. Last year, a federal judge ruled that sales of XRP on secondary markets are not sales of securities. Thus, Ripple won a major victory in the middle of the summer. The SEC also dropped charges against Ripple co-founder Chris Larsen and the company’s CEO Brad Garlinghouse. In the latest development, the SEC is demanding that Ripple pay them $2 billion in compensation to cover all fines and damages caused by Ripple.