My two cents on recent attack on crypto

I've seen a lot of posts today talking about getting rid of the coin you believe in because the SEC said it was a security, and basically saying the SEC gave them the kiss of death because they were mention.

The SEC has no other recourse than suing every single project one at a time, that would take in reality YEARS for those to be settled someway or another. Even the litigation that is starting right now against coinbase and binance will take a couple of years to conclude those.

Even if the SEC sue everyone they deemed a security, there is a high chance that XRP wins the case against them, and if they do every single crypto token will cite that as precedent, judges are prone to agree with precedent and 99% of those lawsuits will be ruled in favor of the asset (or commodity).

In reality, we should be glad, the SEC made their move, and its a rather weak, unimpressive one, while pushback from the SEC was expected, they have a steep mountain to climb in any litigation they put forward.

Furthermore, big banks in US are starting to get into crypto, some of them are starting to offer crypto trading and such (like Fidelity) these corporations give millions of dollars to politicians that will do regulation, that most likely stop the SEC from suing even half of the projects mention.