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Ripple CTO Reacts to Ethereum Co-founder's Push for Blockchain Legal Protection

Mon, 05/22/2023 - 11:22
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Tomiwabold Olajide
Ethereum co-founder seeks legal protection for blockchain
Ripple CTO Reacts to Ethereum Co-founder's Push for Blockchain Legal Protection
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A vocal XRP community member, "Mr. Huber," shared a screenshot from a paper co-authored by Ethereum co-founder Vitalik Buterin and Thibault Schrepel, "Blockchain Code as Antitrust."

He highlights a statement from the report that calls for certain legal protections to apply to all genuinely decentralized blockchain networks.

"All genuinely decentralized blockchain infrastructures - such as we have defined them [Ethereum] - should benefit from various legal protections, whether in law enforcement or regulation," the sentence reads. 

The Twitter post got the attention of Ripple CTO David Schwartz, who replied: "Anyone knows what they're referring to when they say "various legal protections" in the highlighted part above? I can't figure it out from the paper."

Ethereum’s Vitalik Buterin Riles Up XRP Community Once Again

Last year, Ethereum creator Vitalik Buterin infuriated the XRP community after he said that the sixth largest cryptocurrency had lost its right to protection when Ripple tried to paint Ethereum as being "China-controlled."

This follows after Buterin criticized Ripple in December 2020 for "sinking to new levels of strangeness" by attempting to characterize Bitcoin and Ethereum as "China-controlled."

'Huge': SEC Emails Suggest XRP Is Not Security

Meanwhile, in a positive twist regarding the Ripple-SEC lawsuit, John Deaton, the founder of CryptoLaw, discovered evidence in SEC internal emails that suggests there are good reasons to believe that XRP does not meet all of the requirements of the Howey Test and may not be considered a security.

Additionally, the court recently rejected the SEC's request to seal documents belonging to former SEC employee William Hinman that contained a 2018 lecture in which Hinman claimed Ethereum was not a security.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.