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May 7th SEC Meeting


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16 hours ago, MadmaXRP said:

BTC isn't owned by anyone so there is no company/shareholders etc

How so? If my memory is correct BTC is even more poorly distributed i.e. most of the supply is held by around 10% of the addreses, I'm too lazy to find the stats though.

5 minutes ago, MaTTo322 said:

The only case the SEC has to classify Ethereum and Ripple as securities is the fact that they both held ICO's, otherwise they are both utility tokens.

That's not correct, Ripple had no ICO

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Tthe meeting today is considered a "working group" meeting. Basically an informal meeting and brainstorming session among board members. That's why it's not listed on the SEC website.. It's not a public hearing, and there will be no real decisions or legislation passed. We most likely won't hear any public statements about the meeting, unless someone leaks information.

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On 5/5/2018 at 6:53 PM, Sio2yH2O said:

Curious "if" the SEC were to label XRP and ETH a security why not BTC. It's not that much of a leap is it?

This is the point. If it happens $BTC will be worthless, but at least $ETH and $XRP have the capacity to do KYC and AML.

Basically in the evolutionary charts BTC is the Dinosaur, ETH is reptiles and XRP is mammals.

Just waiting for the asteroid!

Edited by Mikhail_Liebenstein
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On 5/5/2018 at 1:53 PM, Sio2yH2O said:

Curious "if" the SEC were to label XRP and ETH a security why not BTC. It's not that much of a leap is it?

Yeah actually an incredibly massive leap. One so far you would never make it to the other side. 

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17 minutes ago, Mikhail_Liebenstein said:

This is the point. If it happens $BTC will be worthless, but at least $ETH and $XRP have the capacity to do KYC and AML.

Basically in the evolutionary charts BTC is the Dinosaur, XRP is reptiles and XRP is mammals.

Just waiting for the asteroid!

Did you mean ETH represented reptiles?

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