Vitalik Buterin, the co-founder of Ethereum (ETH), has recently revealed his resentment for Ripple and XRP community, following the new regulation in Canada that places restrictions on certain digital assets, including one of the largest smart contract platforms, Solana (SOL).
In a recent tweet, Buterin recalled Ripple’s filing of December 2020, which classified Ethereum (ETH) as a China-controlled digital asset.
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In response to an Ethereum community member that said if XRP was restricted in the new regulation, he wouldn’t have bothered, Vitalik Buterin wrote, “XRP already lost their right to protection when they tried to throw us under the bus as “China-controlled” imo.”
XRP already lost their right to protection when they tried to throw us under the bus as "China-controlled" imo:https://t.co/t6cbMtjsEV
— vitalik.eth (@VitalikButerin) August 17, 2022
What Brought about Vitalik Buterin’s Statement?
As aforementioned, a new Canadian crypto regulation is limiting the value of crypto people can buy in certain regions to $30,000 per year. This affects certain cryptocurrencies like Solana (SOL), but digital assets such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC), are excluded from the restriction.
In response to a complaint in relation to the new restriction from David Hoffman, the founder of Bankless.eth, Buterin said he’s happy to see Ethereum community members pushing against regulations that affect other legitimate cryptocurrencies.
Buterin tweeted, “Glad to see Ethereum people pushing against regulations that privilege ETH over other legitimate cryptocurrencies.”
Glad to see Ethereum people pushing against regulations that privilege ETH over other legitimate cryptocurrencies.
(I have not dug into the details of what specifically is going on and to what extent it's a gov thing vs a compliance decision of one business, but either way…) https://t.co/NDYPh5rqsk
— vitalik.eth (@VitalikButerin) August 17, 2022
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XRP Community Members React
As expected, this comment from the number one citizen of the Ethereum ecosystem caused a stir on Twitter, and vital members of the XRP community, such as David Schwartz, John Deaton, and Jeremy Hogan did not reserve their comments.
In response to the sensitive comment from Ethereum co-founder, David Schwartz, the CTO at Ripple, wrote:
“The goverment should punish projects that disagree with our narrative” seems pretty on brand for ETH.
“Also, I do think it’s perfectly fair to analogize miners in PoW systems to stockholders in companies. Just as eBay’s stockholders earn from the residual friction between buyers and sellers that eBay does not remove, so do miners in ETH and BTC.
“Just as eBay stockholders want to leave as much friction between buyers and sellers as they can because that’s their revenue stream, so do miners in ETH and BTC. That’s part of why they have higher fees than XRPL.”
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John Deaton, the lawyer representing over 70,000 XRP investors in the ongoing Ripple-SEC lawsuit said:
“I’ve brought up things like Vitalik getting the exchanges to halt trading but always said he had good intentions. Vitalik should I send you emails of people financially devastated by SEC’s overreach? People who’ve never heard of Ripple have had their XRP and life savings frozen.”
I’ve brought up things like Vitalik getting the exchanges to halt trading but always said he had good intentions. Vitalik should I send you emails of people financially devastated by SEC’s overreach? People who’ve never heard of Ripple have had their XRP and life savings frozen. https://t.co/AowoxZ9vx3
— John E Deaton (212K Followers Beware Imposters) (@JohnEDeaton1) August 18, 2022
Jeremy Hogan, the attorney who has been supporting Ripple and XRP since the start of the long-standing litigation, also said, “Am I getting old or is Vitalik too young to be a Mafia Don?
Am I getting old or is Vitalik too young to be a Mafia Don? https://t.co/KoPjcBKbAK
— Jeremy Hogan (@attorneyjeremy1) August 18, 2022
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