- Michael Saylor says Ethereum will be classified a security backed by crypto assets
- Charles Hoskinson quickly responded to Bitcoin Maxi’s comment
It is beginning to regulate the crypto market in the United States, starting with Kraken, Coinbase and Uniswap. The United States appears to be turning its focus towards Ethereum [ETH]. It is not surprising that opinions on such a venture are mixed.
MicroStrategy’s CEO says that while some people are against the Securities and Exchange Commission (SEC’s) classification of ETH, it is a financial instrument. Michael Saylor Does not believe otherwise
Michael Saylor’s Argument
According to this executive, Ether, which is currently the most popular altcoin on the market, should instead be classified as an asset security, not a commodity. Speaking Saylor also added that at the MicroStrategy World 2024 event,
“By the end of May, you’ll get to know that Ethereum is not going to be approved. Then it will be clear to everyone that Ethereum is deemed as a crypto asset security and not a commodity.”
Then he said,
“After that, you’re gonna see that Ethereum, BNB, Solana, Ripple, Cardano, everything down the stack is a crypto asset security unregistered.”
Saylor’s claim implies that the tokens mentioned above will never be accepted as crypto assets by Wall Street, or by institutional investors.
Charles Hoskinson takes a step in
Saylor’s comments were not well received by everyone. Cardano co-founder criticised the remarks of Cardano’s exec Charles Hoskinson I took to X and tweeted,
“Michael if your only argument for Bitcoin is that governments are appraising it and liking it and that all the altcoins are hated by governments, you are on the wrong side of history, my friend.”
Ses responses highlighted the belief among Bitcoin maximumists that cryptocurrency beyond Bitcoin could be considered illegal or fraudulent. It also touched on the broader cryptocurrency debate, which is about the legitimacy alternative digital assets.
Hoskinson’s support for altcoins is not new. One month ago today, the aforementioned article was published. Forbes article The labeling of several cryptocurrency “crypto zombies.” This list includes Cardano [ADA], Ripple [XRP]. and Bitcoin Cash [BCH].
Responding Hoskinson responded to Hoskinson’s criticism.
“Hey guys @tezos @Algorand @bitcoincashorg @Ripple_XRP1 @StellarOrg @BobSummerwill we are all Crypto Zombies according to Forbes. I guess it’s because we got all the brain.”
Additionally, Ben ArmstrongCardano is a cryptocurrency that has raised concerns. “ADA is DEAD for REAL.” Clarifying the Air Around the Same Hoskinson replied,
“Sorry, Ben. Once you get on the Ada is going to die train, we have nothing more to discuss about Cryptocurrencies. I wish you good fortune in the years to come.”
Investors’ interests remain unaffected
These comments demonstrate that speculations like these are just a guess. Cardano, according to recent research, has a greater Nakamoto coeficient than altcoins.
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Source: ambcrypto.com