• Forbes contributor Roslyn Layton wrote an essay on SEC’s policy regarding ETH and XRP, but the article was later removed from the website.
• The XRP community responded with fury to this news and screenshots of the article were distributed by members of the community.
• Layton argued in her piece that the SEC’s position is difficult to defend given that they claim to provide direction for the developing market.
Forbes Removes Article on ETH & XRP
A recent essay written by senior Forbes contributor Roslyn Layton on SEC’s policy regarding ETH and XRP was mysteriously removed from the website, causing outrage amongst members of the XRP community. Screenshots of the article were distributed by some members, while others noted that it could still be viewed in ‘reader mode’ on certain browsers.
SEC Policy Regarding ETH & XRP
Layton had raised issues about why ethereum was exempt from a controversial 2018 Bill Hinman speech – which was considered by the SEC as providing enough direction for the developing sector – yet Ripple and XRP were treated differently. It was suggested that emails associated with crafting this contentious speech may have been at play here, with attorney-client privilege being used as justification for keeping these records secret per Omnibus petitions made in December 2020.
SEC Position Called into Question
Layton argued that given that SEC claims to provide direction for the developing market, their position was difficult to defend without access to these records. She contended that making them public may hinder future policy considerations by agency officials, calling into question why ethereum is receiving special treatment compared to Ripple and XRP.
Community Reacts With Fury
The removal of this essay caused outrage amongst members of the XRP community who felt it highlighted important points about inconsistencies between rules regarding different digital assets. This response demonstrates how passionate members are about cryptocurrency regulation and their desire to see more equitable policies applied across all digital assets in order to create a level playing field within this burgeoning industry.
Despite its deletion from Forbes‘ website, copies of Layton’s essay remain available thanks to screenshots shared by passionate members of the crypto community who do not want her arguments lost amongst current debates around asset regulation within this growing industry.