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Expert’ states XRP [XRP] is a security, Ripple adopted a “wrong regulatory approach”


Still1
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In reality, the SEC will shape its regulations around crypto when it becomes central to the economies of the world, not the other way around.  This has happened many times when we reach a new technological paradigm: the tech becomes way too important for a country to kill it dead with regulations.  In reality, the regulations end up changing to help the tech evolve faster. 

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2 hours ago, OzAlphaWolf said:

No offense to my American comrades, but why are all these articles so US-centric? XRP commercial adoption will explode first in the GCC and Asia, particularly Japan, Thailand and some others. The worst the SEC could do is slow progress in the US. They can't kill XRP and they can't destroy its utility or value. Maybe some panickers sell - so what? The rest of the world will keep moving forward.

Because the regulatory and legal system in the US is mature.  All other regulators combined are lagging 100 years behind in understanding financial instruments. Only in Europe and Asia, you will find Forex, Spread betting, CFDs and Binary Options. Do you know what these things are? SCAMS.  A financial product where the broker is also the market. It Would Almost Be Funny If It Wasn't So Sad!  How can anyone in his right mind allow it?  Don't even get me started on the leverage extend. 

So ......if the SEC decides that XRP is a security, whether the exchange is Korea, Berlin, London or Tokyo, the liquidity will dry up. There will be a drop from 40 cents to 20 cents in a millisecond.   You will not know what hit you.  Then let's wait and see how fast it recovers.  

Our systems are far from perfect and are evolving, but when they catch on they set precedence for the rest of the world. 

Edited by Spekul8
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14 minutes ago, Spekul8 said:

Because the regulatory and legal system in the US is mature.  All other regulators combined are lagging 100 years behind in understanding financial instruments. Only in Europe and Asia, you will find Forex, Spread betting, CFDs and Binary Options. Do you know what these things are? SCAMS.  A financial product where the broker is also the market. It Would Almost Be Funny If It Wasn't So Sad!  How can anyone in his right mind allow it?  Don't even get me started on the leverage extend. 

So ......if the SEC decides that XRP is a security, whether the exchange is Korea, Berlin, London or Tokyo, the liquidity will dry up. There will be a drop from 40 cents to 20 cents in a millisecond.   You will not know what hit you.  Then let's wait and see how fast it recovers.  

Our systems are far from perfect and are evolving, but when they catch on the set precedence for the rest of the world. 

You know Wall Street was responsible for the sub-prime crisis right? You think a few minor instruments somehow compare to the CDOs that nearly wrecked the world economy? And how many US bankers and/or mortgage brokers went to jail over that? Your rosy picture is incomplete.

So no, whatever the SEC decides will not destroy global liquidity for XRP. Other economies, especially those where remittances are highly important, are hungry for this technology and are working to create regulatory regimes that enable good actors while providing protections against the bad. They will leapfrog the West in adoption. The foundations are already being laid.

Edited by OzAlphaWolf
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6 minutes ago, OzAlphaWolf said:

You know Wall Street was responsible for the sub-prime crisis right? You think a few minor instruments somehow compare to the CDOs that nearly wrecked the world economy? And how many US bankers and/or mortgage brokers went to jail over that? Your rosy picture is incomplete.

So no, whatever the SEC decides will not destroy global liquidity for XRP. Other economies, especially those where remittances are highly important, are hungry for this technology and are working to create regulatory regimes that enable good actors while providing protections against the bad. They will leapfrog the West in adoption. The foundations are already being laid.

 

Other economies are far more hungry to grow, especially those where remittances are important and they are actively encouraging fintech.

We also had the.COM bubble, the junk bond scandal, the 1987 crash, and the Great Depression. In mature markets, there are always cycles of boom and bust. Yes, I know that the USA can inflict havoc on the rest of the world because of its economy size. 

But, Fintech is here, was here and will stay here. 

The SEC is not trying to kill XRP or slow its growth. Due to the class-action lawsuits that were launched, it has to decide whether it is a security or not.  No one likes the situation, but they are forced to make a decision. If what they decide does not suit us as speculators, does not mean they are wrong. Ether proved they are not a security, XRP has to do the same.   

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3 minutes ago, Spekul8 said:

We also had the.COM bubble, the junk bond scandal, the 1987 crash, and the Great Depression. In mature markets, there are always cycles of boom and bust. Yes, I know that the USA can inflict havoc on the rest of the world because of its economy size. 

But, Fintech is here, was here and will stay here. 

The SEC is not trying to kill XRP or slow its growth. Due to the class-action lawsuits that were launched, it has to decide whether it is a security or not.  No one likes the situation, but they are forced to make a decision. If what they decide does not suit us as speculators, does not mean they are wrong. Ether proved they are not a security, XRP has to do the same.   

I agree with all of that. Where I disagree is the extent to which it will influence the rest of the world. They're all already moving forward. The G20 are calling for a global response and so far the picture is clear in countries that are legislating the field. If the US break step on this, they will lose. Digital assets are a borderless phenomenon and the countries that foster their utility and innovation will reap the rewards.

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8 minutes ago, OzAlphaWolf said:

I agree with all of that. Where I disagree is the extent to which it will influence the rest of the world. They're all already moving forward. The G20 are calling for a global response and so far the picture is clear in countries that are legislating the field. If the US break step on this, they will lose. Digital assets are a borderless phenomenon and the countries that foster their utility and innovation will reap the rewards.

By classifying XRP as a security it would not mean that Ripple is gone.  It would mean XRP would have to be delisted as a coin and listed in an exchange as a security.   This would affect the speculators, not Ripple, at least in the short run.  

I think that SEC is also going to consider how XRP was sold initially and what was promised in return. If it acted as a security, it would be an issue.   So the question is not only it's utility now, but what it did in the past.   This decision has to comply with US laws regardless of the world. Personally, I think other regulators worldwide are looking at this. 

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Just now, Spekul8 said:

By classifying XRP as a security it would not mean that Ripple is gone.  It would mean XRP would have to be delisted as a coin and listed in an exchange as a security.   This would affect the speculators, not Ripple, at least in the short run.  

I think that SEC is also going to consider how XRP was sold initially and what was promised in return. If it acted as a security, it would be an issue.   So the question is not only it's utility now, but what it did in the past.   This decision has to comply with US laws regardless of the world. Personally, I think other regulators worldwide are looking at this. 

It's my position that the SEC believes XRP is, or was,  a security but they are working with Ripple to get it to a point where it no longer fits that designation. Some other countries may be influenced by the SEC but important jurisdictions are not. Japan and Thailand have already ruled. The GCC states are working on it. India is close. China will eventually release a regulatory framework that suits their system. Russia have either passed laws or are close to it. UK is looking at it. Many EU countries are taking a fairly predictable approach - nurture innovation, protect against bad actors. Nowhere do I see anyone waiting to see what the SEC thinks.

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1 minute ago, 2ndtimearound said:

So can we file a class action lawsuit against Ripple for the low XRP price if SEC rule it a security and the current lawsuit plaintiffs win their cases?

 

Don't give some of these clowns any ideas.  Lol

And Ripple can pull the plug on xRapid and any other xrp ecosystem investments while flipping us the middle finger.  :sarcastic:

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7 hours ago, Queen_of_Lint said:

Being named a security is better than this toxic uncertainty.  Markets do not respond well to it.

That is what I was basically saying in my last post is I think there is a strategic ploy to create a distinct aura of uncertainty around XRP not that it will be stopped cold but the lawsuits are designed to slow down progress thus manipulating the market in favor of those that have an agenda to capitalize on the uncertainty  "Litigation fosters uncertainty!!"  uncertainty can be a profitable thing if you know how to work it.

Edited by Guest
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I can not longer hear the word "crypto expert". And btw. how many cryptocurrencies are more centralized than xrp? I think about cardano, iota, and many more, even bitcoin.... Can't hear discussions like these any more. Boring FUD ****.... I think many "important crypto exoerts" who are Investor in some sh..Coins are afraid of the ripplepower

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5 hours ago, kbull said:

I can not longer hear the word "crypto expert". And btw. how many cryptocurrencies are more centralized than xrp? I think about cardano, iota, and many more, even bitcoin.... Can't hear discussions like these any more. Boring FUD ****.... I think many "important crypto exoerts" who are Investor in some sh..Coins are afraid of the ripplepower

This Market is not mature enough to have a Crypto expert, I would be cautious of anyone calling themselves a Crypto Expert as it relates to predictions.  The proof will be in the body of work behind the crypto.

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I say relax.  Accumulate.  You and I both know where the price of XRP is heading.  Those lawsuits have court dates.  You can't keep increasing pressure without experiencing an explosion.  How many months left of escrow?  How many months till EOY?

What is the actual value of XRP through what Ripple has created this far?

The Value is what I am getting.  I am merely paying the price...  Oh look!  Two for one!

Buy! Buy! Buy! 

We will experience the incredible increase of price at light speed

It'll be so fast, you won't have time to sell. 

Don't believe me?

'Hold my beer                  

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17 hours ago, 2ndtimearound said:

The fantastic, stupendous, humoungous irony here is that if the SEC deem XRP a security, it will still function as a currency/commodity in other countries.  The stunning contradiction of XRP being used as a bridge currency in other countries while being deemed a security in the US is not lost on me. 

2

Not only that, Fincen declared it a currency. It's declared a currency by holding the bitlicence. It would be interesting if the SEC would become the only agency in the world (including within their own country) considering xrp a security.

Edited by Guest
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