FOX correspondent Charles Gasparino found out the reason for the different SEC classification of Ethereum and XRP tokens.
Citing his own sources, Gaspario claims that the SEC does not consider Ethereum a security due to its blockchain infrastructure, which is fully built and has been operating for years. This argument allows the Agency to classify ETH as goods.
Ripple is still building its infrastructure and funding development through the sale of the XRP token. Gasparino believes that this is the main reason to classify the token as a security.
Ensuring the company's profitability through XRP sales was also confirmed by the former head of Ripple Brad Garlinghouse back in March last year.
According to the logic of the regulator, the stated in a 2013 whitepaper, the company's business model is based on successful sales of the token, which qualifies it as a company security. This was the starting point of the SEC lawsuit.
The Ripple community does not agree that the Ethereum blockchain is “fully built,” marking the current transition to ETH 2.0. In their opinion, the XRP Ledger blockchain is the same independent structure and has been working for many years.
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