A pro-crypto lawyer representing XRP holders countered the apocalyptic prediction of a financial analyst who believes that both XRP and Ethereum will be demolished by the SEC. The lawyer highlighted the SEC’s previous labeling of Bitcoin as a security but believed that the influence of its current regulator, Gary Gensler, would be short-lived. He argued that software code should not be classified as a security and emphasized the need for a level playing field. The financial analyst further asserted that the regulator functioned as a protection racket for the banking cartel.

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