TLDR
- Ripple attorney Bill Morgan criticized VanEck for remaining silent during the XRP lawsuit.
- VanEck recently urged the SEC to reinstate the first-to-file first-to-approve policy for ETF applications.
- The asset managers claimed that SEC favoritism disrupts innovation in the crypto ETF space.
- Bill Morgan questioned why VanEck failed to speak out when Ripple faced legal action while Ethereum was exempted.
- The XRP lawsuit has renewed scrutiny of the SEC’s inconsistent approach to digital asset regulation.
Ripple attorney Bill Morgan criticized VanEck over its silence during the XRP lawsuit while now opposing SEC favoritism. He pointed out VanEck’s recent push for fairness in ETF approvals, questioning their selective response. His remarks came amid rising scrutiny of the SEC’s inconsistent handling of digital assets.
VanEck, along with Canary Capital and 21Shares, submitted a letter to SEC Chair Paul Atkins seeking policy restoration. They urged the SEC to reintroduce the “first-to-file, first-to-approve” policy for crypto ETFs. According to them, equal regulatory treatment will support innovation and maintain market integrity.
However, this move triggered backlash, especially from legal figures involved in previous crypto cases. Bill Morgan stated that VanEck did not raise any concerns during the XRP lawsuit. He emphasized that their current criticism appears inconsistent with their earlier inaction.
VanEck Faces Scrutiny After Recent Appeal to SEC
The joint letter by VanEck and others aimed to pressure the SEC to adopt a consistent ETF approval process. This submission followed delays and regulatory uncertainty surrounding spot crypto ETFs. While the asset managers called for fairness, the timing raised questions.
The letter addressed regulatory delays impacting crypto innovation and competitiveness in the financial markets. VanEck argued that the current process harms emerging crypto products and hinders growth. Their appeal for impartial treatment has drawn mixed reactions from the digital asset community.
Critics highlighted VanEck’s previous silence during regulatory battles involving XRP. While the company now demands equitable policy enforcement, it stayed silent during the Ripple dispute. This contradiction was the basis of Morgan’s criticism shared across social media platforms.
XRP Lawsuit Brings Back Focus on Ethereum’s Exemption
The SEC’s classification of Ethereum as a non-security remains a major point of concern in the XRP lawsuit. In 2018, William Hinman stated that Ether’s structure did not meet securities criteria. This declaration exempted Ethereum from enforcement actions faced by Ripple.
Ripple supporters argue this discrepancy illustrates regulatory favoritism within the SEC’s crypto oversight. Many community members questioned the agency’s internal decisions and potential conflicts of interest. Legal experts, including John Deaton, raised transparency and objectivity issues with the Hinman documents.
Don’t recall you complaining about SEC favoritism when Ripple was sued over XRP sales and Ethereum received a free pass. https://t.co/h8CJ2qk9Yt
— bill morgan (@Belisarius2020) June 9, 2025
Bill Morgan reiterated that major institutions failed to support Ripple during its legal conflict. He contrasted this with their recent vocal stance on SEC fairness. The difference in response added weight to accusations of selective concern among financial firms.
