![ripple-accidentally-makes-a- Ripple](https://coingeek.com/wp-content/uploads/2021/07/ripple-accidentally-makes-a--380x188.jpg)
Ripple accidentally makes a good point in SEC defense: why isn’t ETH an unregistered security too?
Based on the legal test for determining whether something is a security or not (Howey), the SEC has a case. However, in filing its defense, Ripple Labs made an excellent point worthy of discussion.