The views and opinions expressed here are solely those of the author and do not reflect those of the crypto.news editorial staff.

Innovation is the most valuable asset in the universe.

Innovative concepts that produce positive results are more valuable to an economy than anything else. Currently, the United States Securities and Exchange Commission (SEC) is utilizing an existing body of law to stifle financial innovation in the United States and support a financial paradigm that has long outlived its usefulness.

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In this current circumstance, the United States faces two significant challenges. First, anyone with a decentralized fintech concept is excluded from the U.S. economy and financial system. Second, the U.S. bureaucrats who support the SEC's war against decentralized finance are completely detached from reality.

The SEC went berserk.

We simply cannot predict the long-term effects of an innovation conflict. It is evident that it will drive away top-tier developers and discourage those who see adaptation as a means of addressing the challenges our global society faces.

In summary, suppressing innovation is a lose-lose proposition, and the United States is moving in this direction with regard to decentralized finance.

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What is much simpler to demonstrate is that the SEC weaponized existing regulation and law against any company it could. Case in point: SEC v. Ripple, as the notion that XRP is a security or investment contract is completely preposterous.

Early on, the SEC went after Ripple, and over the past week, numerous other projects and platforms have felt its wrath.

Casino coins are not an investment.

The SEC is abusing the Howey Test, which is one of the most essential criteria for determining whether something is a security on the U.S. financial markets. Mr. Howey had a complex investment scheme involving the sale of land, its leasing back, the cultivation of citrus, and much more.

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Ripple did none of the aforementioned. In fact, if one were to compare XRP to something that already exists in the legacy economy, it would be akin to a valueless casino token. Certainly, the comparison is flawed. Casino tokens more closely resemble stablecoins because they are typically pegged to a fiat currency.

In contrast, XRP is a fungible register on a complex ledger (not even a blockchain in the sense of bitcoin). It is a token, but Ripple Labs never ascribed it a monetary value or marketed it as a means to generate returns for purchasers.