On social media platform X, many people interested in digital assets are talking about taking Ethereum (ETH) off big exchanges like Binance.US, Crypto.com, Bittrex, and Bitstamp.

This comes after the US Securities and Exchange Commission (SEC) took legal action against Ripple over XRP sales in 2020. Following the lawsuit, several exchanges stopped trading XRP to follow SEC rules. Ripple has been fighting back and had some success in 2023.

One user on X, named "Digital Asset Investor," pointed out that after the SEC lawsuit, many exchanges like Binance US, Crypto.com, Bittrex, B2C2, OKCoin, Genesis, Coinbase, Swipe Wallet, Ziglu, and Bitstamp stopped trading XRP. In the same message, they questioned why these exchanges haven't taken similar action against ETH, which the SEC considers a security.

People who like cryptocurrencies criticized these exchanges for having different rules for different coins, saying they are now showing their true intentions. One X user even said: "They are trying to make things uncertain and hide their cooperation by acting like they are against each other."

It's important to know that SEC Chair Gary Gensler has repeatedly said that Bitcoin is a commodity, while Ethereum is a security, based on US laws and the Howey test.

However, Consensys, a big supporter of the Ethereum network, took the SEC to court in Texas to settle the ongoing argument, insisting that ETH is not a security. Consensys warned that if the SEC takes control over ETH, it could cause big problems for the Ethereum network, according to Bloomberg.

In conclusion, there's a growing demand to remove Ethereum from major exchanges due to concerns about regulations. While some argue that Ethereum should be treated as a security, others, like Consensys, strongly oppose this view, fearing it could harm the Ethereum network. The debate continues as the crypto community grapples with regulatory uncertainty.