Ethereum co-founder Vitalik Buterin replied to a tweet by Bankless founder David Hoffman about the new crypto regulatory changes in Canada. The rules define that investors are allowed to buy an unlimited amount of Bitcoin, Ether, Litecoin, and Bitcoin Cash. However, there is a $20,000 limit for other crypto assets.
Hoffman criticized the approach, and Vitalik Buterin said he's glad to see Ethereum people not agreeing with rules that privilege Ether over other legitimate cryptos. He added although he hadn't dug into the details of what is happening, that doesn't really matter.
However, the conversation took another direction, when Hoffman responded he wouldn't be against it if regulators had restricted XRP. Buterin says XRP lost their right to protection when they made an attempt to throw Ether under the bus as "China-controlled," sharing earlier documents by Ripple saying why XRP isn't a security.
Glad to see Ethereum people pushing against regulations that privilege ETH over other legitimate cryptocurrencies.— vitalik.eth (@VitalikButerin) August 17, 2022
(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
Following this, Ripple's CTO replied to the tweet, stating Ripple's views about Ether and BTC, comparing miners to eBay stockholders in the sense that all of them want to leave friction between buyers and sellers. says it's why they have higher fees than the XRP Ledger.
Do you think this debate should be settled by the government or the market, @VitalikButerin? This quotation wasn't pulled from some attempt by Ripple to get the government to regulate ETH, was it?— 𝙳𝚊𝚟𝚒𝚍 𝚂𝚌𝚑𝚠𝚊𝚛𝚝𝚣 (@JoelKatz) August 18, 2022
Ripple CTO asked Buterin whether he thinks the debate should be settled by the government or the market.