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Lawson Baker: XRP is a security. Ripple is the issuer.


flanman
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I dunno, Jay Clayton is basically describing XRP:

"Clayton referred to true cryptocurrencies as public Blockchain networks with native cryptocurrencies either mined or produced by the public. If a certain company has control over the monetary supply of its crypto-asset distributed to its users and the value of the token is based on the performance of the company, Clayton reiterated that the token is a security and falls under the regulations imposed by the SEC."

https://cointelegraph.com/news/sec-hints-at-tighter-regulation-for-icos-smart-policies-for-true-cryptocurrencies

 

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4 minutes ago, flanman said:

the value of the token is based on the performance of the company,

but is the value of XRP based on the performance of the company?  I see it as value based on the utility of it on the public ledger.  This is sticky and would not know what side of the fence to fall on, but I don't see XRP tied to Ripple's performance or financial results of their software distribution. 

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After David’s tweet about outsourcing the XRP issue for banks, I personally find all info about regulations and XRP irrelevant now.  If this is a loophole that he was talking about, we could care less about bank’s ability to interact with crypto.

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Funny watching a nobody stating this as fact.  

I suppose Brad G and his brilliant top knotch team have no clue about whether xrp is a Security.  I think we can give them more credit then that.  

And why is Baker getting his own thread.  

Edited by XRPisVELOCITY
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10 minutes ago, XRPisVELOCITY said:

Everyone who spreads fud has an agenda.  They're scared little punks who spread lies and dismiss the facts facts.

 

5 minutes ago, FUD said:

After David’s tweet about outsourcing the XRP issue for banks, I personally find all info about regulations and XRP irrelevant now.  If this is a loophole that he was talking about, we could care less about bank’s ability to interact with crypto.

The only agenda here is this:

https://www.linkedin.com/company/polysign

These guys are 3 steps ahead of anyone, just let them do their job and XRP will dominate crypto in months.

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3 minutes ago, Vvittin said:

So Xrp is a security because it’s owned by the company and price is affected by the outcome of the company, well at the same time is a scam coin because Ripple labs and xcurrent don’t use XRP and can exist without it....get your FUD straight...lol

Keep telling yourself cute little bedtime fairytales.  Maybe you’ll be a big boy in a few years and realize your childish rambling was a huge learning moment.

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The basis of securities law is owners of asset have equity in the entity they invest in. Under securities law if Ripple the privco were to dissolve for whatever reason, holders of xrp have no legal basis as a creditor. The 100b xrp was not created on a contractual basis between Privco and buyers of xrp. Ripple fails xrp goes on maybe worrthless. Likewise if XRP fails Ripple privco goes on to other endevours.

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