Recently released email exchanges from 2018 reveal that multiple U.S. Securities and Exchange Commission (SEC) officials were in deliberation over Ether’s status as a security. These emails were published by Ripple in its legal battle with the SEC, which accuses Ripple of illegally selling XRP for more than seven years as unregistered securities. Meanwhile, in order to “restore sanity” in the U.S Securities and Exchange Commission and remove its current chair, Gary Gensler, Rep. Warren Davidson (OH-08) and House Majority Whip Tom Emmer (MN-06) proposed a bill on June 12 called “The SEC Stabilization Act.” This bill intends to counteract what they’ve seen as “long series of abuses” that have gone unchecked within the existing SEC framework.

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