Tuesday, June 22, 2021
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Battlefield 4 has so many players right now that EA had to increase server capacity

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What just happened? Battlefield 4 has suddenly seen a huge influx of players as it approached its 8th anniversary, likely driven by the newly-announced release date of Battlefield 2042, a creative sales campaign by EA and a collaborative giveaway with Prime Gaming. Some US server regions were experiencing issues related to heavy traffic, prompting EA to add additional servers.

EA recently noted that Battlefield 4 had received an influx of players following the announcement of Battlefield 2042. This boon to the older game’s player base also coincides with a free promotional giveaway, a collaboration between Prime Gaming and EA’s Origin platform.

Battlefield 4 codes were being given away to Amazon Prime subscribers through most of June. Prime was hovering around 200 million subscribers as of Q1 2021. Battlefield 4 sold 7 million copies after its release in October 2013, and by May 2014 only 2% of those were still being played.

Let’s be extremely optimistic and say that most of those players were still playing before EA’s announcement of Battlefield 2042 on Friday. It’d take less than one-tenth of one percent of those with access to Prime Gaming to claim their free code for Battlefield 4 to double the games active player base.

In this perfect storm of events, so many players were flocking to Battlefield 4, particularly the US West server region, so much so that EA noticed drastically increased waiting times in that region. This prompted the gaming giant to increase server capacity, as well as promise to continue monitoring the game to make further adjustments.

This new wave of players seems to be a brilliantly orchestrated event to increase sales of microtransactions in Battlefield 4. Making an older entry in a successful franchise free for millions, and then bolstering hype for the series as a whole by announcing the newest entry’s release date was a surefire way to get more eyes on their DLC and loot boxes for a game that had a meagre and further dwindling player-base.

Beyond that, anyone who has hopped into this game’s revival are going to be hard pressed to purchase the game’s several paid DLC. Without said DLC, players are precluded from joining matches with other players who do want to use certain paid content. Being many times cheaper at entry than purchasing each DLC at $14.99, and the base game if you missed the giveaway, you can instead subscribe to EA Play for $4.99 and get it all as long as your subscription is active. This might push a new group of consumers towards EA’s subscription service on top of the other spikes in purchases associated with Battlefield 4’s revival.

“In fiscal year 2020, EA posted GAAP net revenue of $5.5 billion…”

There is a popular saying that applies here: “If you’re not paying for the product, you are the product.” EA did not rack up its 2020 net revenue of $5.5 billion because it’s immensely dedicated to the enjoyment of their consumers.

That feat was achieved because Electronic Arts is a machine dedicated to extracting money from its target market. With elaborate and subtle persuasion like this coming from major players in all industries, this is one more instance where every consumer must remember to consider whether their purchases are motivated by their own enjoyment and desire to support quality products, or if it is the result of elaborate scheming by companies with a history of questionably immoral decisions. That being said, there is nothing wrong with enjoying a few matches of Battlefield 4 with your friends, as long as you know that it was a decision you made for yourselves.

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Microsoft sends DMCA takedown notices to sites sharing Windows 11

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What just happened? The internet is awash with the Windows 11 ISO, leading to several sites publishing hands-on looks at the next OS before its official reveal on Thursday, and Microsoft isn’t happy. The Redmond firm has issued a number of DMCA takedown notices to anyone sharing “a leaked copy of the unreleased Windows 11.”

Microsoft heavily hinted at the existence of Windows 11 with the release of an 11-minute video of Windows sounds. There’s also the fact that the June 24 event starts at 11 am. This was followed by screenshots and clips of a leaked build appearing on The Verge.

As spotted by Fossbytes, Microsoft Japan has fought back by issuing an official Digital Millennium Copyright Act (DMCA) complaint to Google that singles out Indian tech site Beebom for distributing the Windows 11 ISO.

The complaint, indexed by the Lumen project, states: “Beebom.com’s article is distributing Windows 11 ISO (copyrighted to Microsoft). Please remove their article from the search. It is a leaked copy of the unreleased Windows 11.”

Not everyone was convinced these Windows 11 leaks were real, and some thought Microsoft itself leaked the build to generate more publicity and hype, but the DMCA takedown request appears to prove otherwise. It also erases any doubt that the next Windows will be called Windows 11.

The Windows 11 ISO can be found at several other sources, including torrent sites, so the DMCA takedowns are unlikely to have much effect.

From what we’ve seen in the Windows 11 leaks, it doesn’t offer significant changes compared to Windows 10 in the same way previous versions of Windows differed from their predecessors, but maybe Microsoft has some surprises in store. We’ll find out for certain on June 24.

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Prime Day deal: TicWatch Pro 3 massively discounted for a very limited time

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Prime Day deal: TicWatch Pro 3 massively discounted for a very limited time

Amazon Prime Day sale event is in full swing, but if you haven’t yet depleted your budget and you’re looking for a not-so-expensive smartwatch, we might have the perfect deal for you. The TicWatch Pro 3, one of the first smartwatches in the world to pack Qualcomm’s new Snapdragon Wear 4100 chipset, is getting a huge discount for a very limited time.The TicWatch Pro 3 is so cheap right now that you’ll pay less than you would normally pay for a TicWatch E3, which is supposed to be the more affordable version of the former. For the next 30+ hours, the TicWatch Pro 3 is exactly $102 off, but there’s a high chance that the price will go up once the Amazon Prime Day event ends.

Keep in mind that the TicWatch Pro 3 usually sells for $300, at least the GPS-only version that’s discounted in the United States. The smartwatch features a dual-layer display that supports both Smart Mode and Enhanced Essential Mode, which means that depending on which one you enable, you’ll get either up to 3 days or 45 days of battery life.

Although this is a Wear OS-enabled smartwatch, it’s unclear whether or not Mobvoi will upgrade it to Wear OS 3.0. Although Qualcomm confirmed the Snapdragon 4100 chipset is perfectly capable to run the new version of the OS, Google has yet to commit to any Wear OS 3.0 updates at the moment. 

HP Flash Sale includes our favorite laptop, an RTX 3090-powered PC and discounted high refresh rate monitors

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We all know the shortage problems and high prices plaguing the tech industry right now that make buying hardware a less appealing prospect. Thankfully, HP is here is to lend a hand with a flash sale on PCs—some with RTX 3000-series cards—laptops, gaming monitors, accessories, and more.

HP is slashing up to 58% off select products throughout the event. We’ve highlighted some of the most compelling offers, from the RTX 3090-sporting Omen desktop to our favorite 2-in-1 laptop. Some of these are only available for limited times and in limited quantities, so move fast if you want to grab a bargain.

HP Envy x360 Convertible Laptop 15z-eu000 touch

The power of Ryzen in a sleek convertible, starting at $719

The Envy x360 remains one of our favorite laptops, earning its score of 85 in our review, and this Ryzen-powered model currently on offer for $719 (usually $870) features a more powerful APU than the one in the review unit.

As we’ve come to expect from HP, the Envy x360 features a light and sleek chassis that can be used as a traditional laptop, a tablet, or in tent mode for watching videos/playing games. At the heart of this machine sits the mighty Zen 2-based 7nm Ryzen 7 5700U, complete with its 8 cores/16 threads and 4.3GHz boost clock. You can expect the chip’s performance to rival that of Intel’s Core i7-10875H. Graphics, meanwhile are provided by the APU’s integrated Radeon RX Vega 8 GPU with its 8 CUs and up to 1900 MHz.

The Envy x360’s base model comes with a 15.6-inch IPS full-HD multi-touch screen capable of 250 nits brightness, 8GB RAM, and 256GB PCIe NVMe M.2 storage, though you can upgrade this to a 400 nit screen (+$80), 16GB RAM (+$80), and a 512GB M2. SSD (+$60).

Be it for work, education, or entertainment, the HP Envy x360 is a great combination of price, looks, functionality, and performance, while the discount makes it even more appealing.

HP Spectre X360 Convertible Laptop – 13t-aw200 touch

Our favorite 2-in-1 convertible laptop, now $899

Check out these HP laptops and more best sellers in

There’s a reason the HP Spectre X360 took the “Best 2-in-1 convertible” award in our laptops feature. HP has updated it for 2021 with the latest Intel hardware while keeping the good looks and excellent battery life. The HP Spectre X360 13″ normally starts at $1,050, but it’s currently on sale for $899 at the HP Store packing base specs that include a Core i5-1135G7 (Tiger Lake), 8GB RAM, and 256GB SSD.

The HP Spectre x360 comes in a svelte ultrabook-like chassis that weighs less than 3 pounds and can be positioned in various ways. It’s also a touchscreen in all its iterations. Buying direct from HP means you can configure it to your liking, up to a Core i7-1165G7, 2 TB PCIe NVMe SSD, and the option of a luxurious 4K UHD OLED panel.

The fourteen-inch version of the Spectre x360 is also reduced, down to $1,169 from $1,369.

OMEN Laptop 17t-cb100

Spec this 144Hz laptop up to an RTX 2080

HP Flash Sale includes our favorite laptop an RTX 3090 powered

As with most other hardware right now, laptops are seeing inflated prices, which is why we can appreciate the Omen 17t-cb100. The base model features a Core i5-10300H and GTX 1660 Ti for $899, nearly $200 off the usual price. It also comes with a 256GB M.2 SSD and 8GB of memory.

That spec is no slouch, but if you really want to get the most out of the 17-inch 144Hz IPS FHD screen, we recommend upgrading to the Core i7-10750H and RTX 2070 Super combo for $1,329, bringing all the benefits of the RTX series, including DLSS.

Those who want to push more FPS out of their games can add an RTX 2080 Super to the i7-10750H for a final price of $1,739. You can also up the memory to 32GB (+$260) and include 1.5TB of TLC M.2. storage (+$420). The Omen 17t-cn100 also comes with Intel 802.11b/g/n/ac (2×2) Wi-Fi and Bluetooth 5 as standard.

Omen 30L Desktop GT13-0380t

The blistering power of the RTX 3090

1622481062 887 HP Memorial Day deals include an RTX 3090 gaming PC

Getting hold of an RTX 30-series right now is a near-impossible task, but pre-built PCs are an alternative option. And the Omen 30L desktop comes with the best of the best: the titanic RTX 3090. HP is temporarily knocking $100 off the price, taking it down to $3,099, and offering free shipping.

In addition to Nvidia’s 24GB flagship card, the Omen 30L, which we gave a score of 85, boasts a Core i7-10700K, 16GB RAM, 512GB NVMe M.2. SSD, CPU watercooling, a Cooler Master AMP 750 W Platinum efficiency PSU, and integrated Wi-Fi 5. Those wanting an even more beastly rig can add a Core i9-10850K or Core i9-10900K, up to 64GB of RGB HyperX RAM, up to 2TB NVMe storage, extra HDDs, and Intel Wi-Fi 6 AX 201 (Realtek Wi-Fi 5 2×2 and Bluetooth 5 come as standard).

HP Pavilion gaming desktop TG01-1160XT

Grab a compact PC with an RTX 3060 for $1,024

1622481062 146 HP Memorial Day deals include an RTX 3090 gaming PC

If you’re desperate for Ampere but don’t want to spend three grand on the Omen 30L, the HP Pavillion gaming desktop can be specced with the excellent RTX 3060 for $1,024. This model comes with a Core i5-10400 and can be upgraded to a Core i7-10700 for an extra $170.

Elsewhere, buyers get 8GB of RAM that can be upgraded to 16GB (+$100) or 32GB (+$200) along with a 256GB SSD. Storage can comes in several sizes and formats, including some with Optane, and the RTX 3060 option features a 400W PSU.

More casual gamers who don’t need a beastly GPU can save money by opting for the base model that comes with the GTX 1650 and a 310W PSU for just $639. Buyers can also save 28% on Microsoft Office 365 Personal.

HP Envy Desktop TE01-2250xt PC

Rocket Lake and Ampere in a $1,123 package

1622481062 60 HP Memorial Day deals include an RTX 3090 gaming PC

Looking to combine the latest from Intel and Nvidia? This Envy desktop offers three 11th-gen Rocket Lake CPUs—i5-11400, i7-11700F, i7-11700—and an RTX 3060, making it an excellent option for work and play at $1,123 for the i5 model.

The Envy also has dual-channel 8GB RAM, a 256SSD, and a 400W PSU (Gold efficiency). The usual upgrades are available, including a 1TB + 2 TB SSD combo and 32GB of RAM. Non-gamers can lower the price significantly by opting for integrated graphics and a 300W PSU, bringing the cost down to just $499.

Omen X 27 240HZ gaming monitor

Blistering speeds and a QHD resolution for $559

1622481062 58 HP Memorial Day deals include an RTX 3090 gaming PC

Looking to pair one of the Ampere-powered PCs with a high-refresh-rate QHD monitor? Then check out the Omen X 27, which comes with a 2560 x 1440 TN panel @240Hz. It’s now down from the usual price of $649 to $559.

The 27-inch Omen features AMD’s Radeon FreeSync 2 (now known as FreeSync Premium and FreeSync Premium Pro) adaptive sync tech for buttery smooth, stutter/tear-free gaming, as well as low latency and support for Low Framerate Compensation.

Other specs of this monitor include a 1ms response time, 300 nits brightness, a two-port USB hub, easy to access headphone jack, a DisplayPort 1.4 input, and one HDMI 2.0 port. It’s also got excellent color performance, with just a deltaE average of 1.27 and 100% sRGB coverage.

We love the Omen X 27 monitor, scoring it 95 in our review. You can also save over $200 when buying two of them in a bundle.

HP X27i 2K Gaming Monitor

144Hz@1440p for under $300

1622481062 467 HP Memorial Day deals include an RTX 3090 gaming PC

For those who want a well-priced 27-inch 1440p monitor with a fast refresh rate, the HP 27i 2K is an excellent option for $289

The HP X27i’s IPS panel has a 2560 x 1440 resolution, 144Hz refresh rate, 4ms response time, and 1000:1 contrast ratio, as well as AMD FreeSync—an enticing combination for that sub $300 price point.

HP is also offering the X27i 2K with its HP X1000 Wireless Gaming Headset for $376.

HP Neverstop Laser 1001nw

Laser printing at $249

1622233745 371 Check out these HP laptops and more best sellers in

Looking for a no-frills wireless laser printer for black-and-white documents? The Neverstop is an excellent option at its currently discounted price of $249.99.

The Neverstop is popular among Amazon users, boasting 4.3 stars from its 1,400+ reviews. It can print up to 21 ppm (pages per minute) and the included toner tank is good for up to 5000 printed pages. This is lowest cost-per-page on HP laser printing at less than 1 cent per page.

Omen Spacer Wireless TKL Keyboard

Cherry MX Brown switch in this $114 TKL wireless keyboard

1622481062 281 HP Memorial Day deals include an RTX 3090 gaming PC

TenKeyLess Keyboards (TKL) are becoming increasingly popular these days, thanks to their portability and lower space requirements. This model from HP’s Omen brand uses 2.4GHz wireless tech for a constant, stable connection.

The Keyboard features Cherry MX Brown switches (the tactile-style ones) with a 1ms response time and boasts 100% anti-ghosting. Normally $159, the Omen Spacer Wireless TKL Keyboard is down to $114.

Omen Sequencer Keyboard

Optical-mechanical Blue switches for $119

1624317721 849 HP Flash Sale includes our favorite laptop an RTX 3090 powered

For those who prefer a more traditional keyboard, there’s the full-size Omen Sequencer. It uses optical-mechanical Blue switches that enable a 0.2 ms response time—10 times faster than traditional mechanical switches—along with individually backlit RGB keys.

The Sequencer also features dedicated macro keys, USB passthrough, and a satisfyingly meaty volume wheel. It’s down to $119 from the usual $149.

Those looking for a cheaper option may like the $27 HP Pavillion Gaming Keyboard 500, which has Red mechanical switches and RGB LED backlighting.

Omen Reactor Mouse

Omen’s gaming mouse is down to $59

1622481062 660 HP Memorial Day deals include an RTX 3090 gaming PC

The Reactor Mouse ticks all the right boxes: customizable RGB lighting, macro support, 16,000 DPI optical sensor, and adjustable DPI, polling rate, and liftoff rate. HP writes that its light beam detection tech enables a 0.2ms click response time—3 times faster than a traditional mechanical mouse switch. The Omen Reactor mouse is reduced by $26 to $59.

1624317721 47 HP Flash Sale includes our favorite laptop an RTX 3090 powered

For fans of wireless mice, the Omen by HP Photon has QI charging, all-day battery life, precision control with 8200 dpi laser tracking, 6 programmable buttons, and 8 sensitivity levels. Now down to $103.

Microsoft Office 2019 Home & Student – License

Word, Excel, and PowerPoint in one $119 bundle

1622481062 397 HP Memorial Day deals include an RTX 3090 gaming PC

Desperate for some Microsoft Office apps but don’t want to pay a subscription fee? This Office 2019 Home & Student License is a one-time purchase, reduced from the usual $149 price to $119.

The package contains the classic 2019 versions of Word, spreadsheet Excel, and presentation software PowerPoint, all of which can be installed on a single device. As the name suggests, it’s an excellent option for students or users who don’t require the full range of Microsoft’s latest Office apps.

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How We’re Helping Fight Climate Change

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Today, we released our 2020 Sustainability Report, showing the progress we made on our sustainability goals. We’re proud that we met our goals of reaching net zero emissions and 100% renewable energy for our global operations. We also reduced our greenhouse gas emissions by 94% from 2017 levels, exceeding our goal of a 75% reduction. 

Our 2020 sustainability highlights: 

  • Our renewable energy portfolio totaled over 5.9 gigawatts (GW) of wind and solar projects under contract, and we increased our operating portfolio of wind and solar to over 2.8 GW spanning 15 US states, Europe, and Asia. 
  • Facebook restored nearly 5.8 million cubic meters of water in high water stress regions.
  • We launched the Climate Science Information Center, a dedicated hub for authoritative information from the world’s leading climate science sources. 
  • Our renewable energy portfolio covered the electricity use of our employees while they worked from home. This was the first year that we have incorporated work from home emissions into our environmental inventory.
  • Facebook invested in high-quality carbon removal projects that removed 145,000 metric tons of carbon from the atmosphere, including reforestation projects in East Africa and the Mississippi River Valley. 
  • We also introduce how we map to the United Nations Sustainable Development Goals and share our ESG priority topics.
  • During last year’s global pandemic and economic recession, the health and resilience of workers in our global supply chain was a leading priority. To that end, Facebook worked with our priority suppliers to address labor, human rights, and health and safety focus areas across our supply chain.

We are proud of what we have achieved, but we’re not done yet. In 2020, we set a new goal: reaching net zero emission for our value chain in 2030. 

Read the full text of Facebook’s 2020 Sustainability Report here.

EA could reveal a new Dead Space game next month

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Something to look forward to: Ask horror game fans about their favorite titles of all time, and many will mention Dead Space. The series has been on hiatus since the weakest and least-loved of the main trilogy, Dead Space 3, arrived in 2013, but a new entry could be announced next month.

VGC reports that GamesBeat journalist Jeff Grubb previously revealed how EA’s Motive studio, the devs behind Star Wars Squadrons, was working on “an established IP” revival, adding that “I think you’ll be happy.” During a stream last week, he dropped a huge hint as to what the game might be: “We’re going to see it… if we’re not dead first.”

Grubb said the next Dead Space, or whatever the secret game might be, will be unveiled at the EA Play event that takes place on July 22.

The first Dead Space scared the crap out of gamers when it arrived back in 2008 for the PlayStation 3, Xbox 360, and PC, winning a slew of awards and accolades. Dead Space 2, released in 2011, was also a huge hit, and introduced a multiplayer mode. Dead Space 3, however, didn’t gain as much praise and sales fell below expectations, which was blamed on the focus shifting from horror to action.

Original developer Visceral Games and EA had hoped to create a fourth entry, despite Dead Space 3 being a disappointment, but those plans were shelved when Electronic Arts shut down Visceral in 2017.

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This strange SSID could permanently disable your iPhone’s WiFi

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PSA: Apple has something of a history of iPhone-breaking bugs. The newest discovery does not brick the device outright, but it does make the WiFi go haywire to the point it is unusable until you perform a factory reset.

Someone encountered a strange bug in iOS that will permanently jack up an iPhone’s WiFi. Twitter user Carl Schou tweeted a video showing what happens if you ever try to connect to a router with the SSID “%p%s%s%s%s%n” (below).

When Schou tried this, his phone got stuck in an endless loop, connecting and disconnecting to the router. Neither rebooting nor renaming the SSID was able to break the loop. His only remedy was to perform a factory reset.

Another Twitter user said he could resolve the issue by going to Settings->General->Reset, then selecting “Reset Network Settings.” However, we could not find any TechSpot staff members willing to intentionally bork their phones to confirm if this solution really works.

Why Schou gave his router such a weird name in the first place is anybody’s guess. He does mention that he belongs to a hacking group. Perhaps they figured the SSID out through data mining or something and were testing it.

In any case, now that the information is out there, someone might try to use it to prank others. So it would be wise to avoid connecting to any network you might come across with this SSID or anything similar for that matter. As a general rule of thumb, always exercise caution when connecting to any unknown hotspot.

We have reached out to Apple to see if it is aware of this bug but did not hear back by post. We’ll update this article if and when Apple gets back to us.

Image credit: PSGflash



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Amazon destroys up to 200,000 items of unsold stock per week at its Dunfermline warehouse

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In brief: Have you ever wondered what Amazon does with all the unsold stock stashed in their warehouses? According to the company, most stock is resold, donated, and recycled, while only a small part is destroyed. However, a new report claims that the biggest online retailer is destroying up to 200,000 items per week at its Dunfermline warehouse alone.

In an investigation led by ITV News, the outlet shared a video with footage recorded inside Amazon’s Dunfermline warehouse showing consumer electronics, jewelry, books, packages of face masks, and more being flagged for destruction. Regardless if they are new or returned, items flagged to be destroyed are sent to the “destruction zone” of the warehouse.

During an interview before the publication of the investigation, John Boumphrey, VP country manager UK at Amazon, said that the amount of items destroyed is “extremely small.” The company also stated that nothing is sent to landfills, and as a “last resort,” the goods are sent to energy recovery.

On the other hand, there’s a former Amazon employee stating that the weekly target of destroyed items was about 130,000 from which about half is new, and the other half are returned products. In certain weeks, the number of items marked to be destroyed can even reach 200,000 items.

The news outlet also had access to a leaked document detailing the number of items flagged for destruction and donation during one week of April. While 124,000 items were destroyed, only 28,000 items were donated to a charity.

“There’s no rhyme or reason to what gets destroyed: Dyson fans, Hoovers, the occasional MacBook and iPad; the other day, 20,000 COVID (face) masks still in their wrappers,” Amazon’s ex-employee said.

The reason behind the shocking item disposal is due to how Amazon works as a reseller. Vendors may choose Amazon to stash their products in warehouses at a cost that increases depending on how long they are stored. As costs increase, it eventually becomes cheaper to destroy the items instead of having them stored.

UK’s prime minister Boris Johnson and business secretary Kwasi Kwarteng promised the case will be investigated.

Masthead credit: Dunfermline Press



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Scientist invents straw to instantly cure hiccups

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Why it matters: A spoonful of peanut butter. A good scare. Breathing into a paper bag. They’re all home remedies that claim to cure hiccups, but now there’s a dedicated device that reportedly does the deed instantly and effectively.

The HiccAway is a purpose-built straw that claims to get rid of hiccups instantly. It was designed by Dr. Ali Seifi, director of the neuroscience intensive care unit at the University of Texas, to help patients recovering from neurological injuries manage hiccups (apparently hiccups are common with brain injuries).

After years of trying to simplify a method to cure the condition, Dr. Seifi came up with the HiccAway.

To use it, simply put the cap on the desired setting (child or adult) and place the straw into a glass of water that is less than half full. Then, forcibly sip from the mouthpiece and immediate swallow, in one breath. Repeat this process two to three times and voila, your hiccups should be gone.

According to Dr. Seifi, the straw generates enough pressure while sipping to lower the diaphragm and simultaneously activates the leaf-shaped flap in the throat, the epiglottis. This stimulates two key nerves, the phrenic and the vagus nerves, which are responsible for the hiccups and allows the brain to “reset” to stop the hiccups.

The HiccAway is available to order starting at $14.

What’s your go-to home remedy, and how effective would you say it is at getting rid of your hiccups?

Image credit TungCheung

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XRP might not be a security, says SEC’s Hester Peirce

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  • SEC Commissioner Hester Peirce clarifies that XRP might not be a security, but may have been sold as one.
  • SEC has left out the regulations of cryptocurrency and blockchain from its list of priorities for 2021.

As the case between Ripple and the SEC rages on, a new comment by Hester Peirce has been encouraging for the Ripple community. The commissioner of the US Securities and Exchange Commission Hester Peirce, also known as “Crypto Mom” said that XRP might not be security but could have been issued as one. 

Ripple Labs and two high-profile executives, Brad Garlinghouse and Chris Larsen are facing prosecution for violating the federal securities laws. Ripple is accused of issuing unregistered securities. It has long been a concern if XRP is a security.

The crypto mom, in an interview, clarified that the SEC is going after Ripple not because XRP is a security but because it could have wrongfully issued the tokens. What the lawsuit means is that the asset is being sold as part of an investment contract or securities.

When we think about a crypto-asset as being a security, what we’re doing is we’re saying it’s being sold as part of an investment contract, which means that promises are being made around the sale of this asset. It doesn’t mean that the asset itself necessarily has to be a security. It means that it was being sold as security.

Ripple has refused to back down as they insist they never sold XRP as part of an investment contract. Garlinghouse has argued that XRP holders have no stake in the company, and so the case holds no water. He also believes that this is an attempt by authorities to attack the crypto industry at large. 

According to Peirce, the SEC needs to provide regulatory clarity in such cases before they pursue non-fraud cases. 

Crypto regulation omitted from regulatory priorities for 2021

Recently, SEC Chairman Gary Gensler called on the imposition of crypto regulation as some securities are posing as cryptos. 

This was to bring similar protection to the exchanges where you trade crypto assets, as you might expect on the New York Stock Exchange or Nasdaq… And a lot of crypto tokens, I won’t call them cryptocurrencies for this moment are indeed securities.

Interestingly, the Office of Information and Regulatory Affairs has disclosed that SEC left out regulations of cryptocurrency and blockchain from its list of regulatory priorities for 2021. However, Gensler made a request of Congress to start a hearing in a bid to control cryptos. 

It has already been revealed by Cornerstone Research in a report entitled “SEC Cryptocurrency Enforcement” that the agency has so far taken about 75 crypto-related actions since 2013. SEC cautioned investors against funds trading in Bitcoin futures. This comes at a time companies are seeking approval to trade Bitcoin exchange-traded funds (ETF).

In addition, with the agency not keen on regulation clarity, the case against Ripple is likely to drag on to the coming year. Recently, Attorney Jeremy Hogan predicted that if the two settled, this would not happen until early 2022.

Read More: Ripple vs. SEC possible settlement not happening this year; can only happen starting January 2022: Legal expert





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