In a recent tweet, pro-XRP lawyer Bill Morgan has expressed concerns regarding the Securities and Exchange Commission’s (SEC) stance on crypto donations. The SEC had previously claimed that Ripple’s donations and giveaways were considered securities under their single-year offering of XRP. This raised questions about the potential double standard in how such donations are being treated.
Bill Morgan’s Critique
During the SEC v. Ripple lawsuit, the SEC argued that Ripple’s donations and giveaways of XRP were part of a broader securities offering, suggesting that these transactions should be regulated as securities. However, recent reports have revealed that Kamala Harris accepts crypto donations through Coinbase, prompting Morgan to challenge SEC Chair Gary Gensler on social media.
Morgan questioned whether the crypto donations to Harris were being treated as ‘crypto asset securities’ investment contracts, similar to how the SEC had argued about Ripple’s donations in the past. This discrepancy in treatment between Ripple and current crypto donation practices has sparked a debate about the consistency of the SEC’s regulatory approach.
As the discussion unfolds, many are left pondering whether the SEC’s policies are being applied uniformly or if certain cases are being handled with more leniency. The scrutiny surrounding the SEC’s stance on Ripple’s donations and its comparison to current crypto donation practices continues to raise questions about regulatory standards in the cryptocurrency space.
