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Tomster

Ripple investor Andreessen Horowitz speaks at U.S. public hearing

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Clearly he's saying XRP is a commodity and should be regulated by CFTC not SEC.

"Once the network is in use" they are commodities. Ripple ledger has closed 40 million ledgers, XRP has been a commodity for a long time.

 

Also that one ******* talking down to the woman on the panel is enraging.

Edited by ImTheRippler

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We believe that the regulatory nature of crypto networks varies with the stage of development of a particular project. Briefly, when a centralized sponsor is seeking to raise capital from investors prior to the functional development of the network, this is probably known as an investment contract and therefore regulated as a security. However, the nature of the tokens that are delivered on that contract can ultimately be regulated as commodities once the fulfillment of that investment contract has occurred. 

As stated by the CFTC some tokens are not securities once the network is functional and in particular in cases where the network is decentralized from an ownership perspective, we believe the nature of the tokens looks more like commodities than securities, and therefore probably rightly should be governed by the CFTC. This is precisely because there's no centralized sponsor on which the efforts of the value of the token are largely dependent. Instead the tokens have value based upon the utility of the service to participants. This actually looks much more like the way commodities trade.

 

1 hour ago, Tomster said:

 

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16 minutes ago, Black said:

They don’t really mention XRP or Ripple. They give descriptions that can fit them, though.

They don’t mention any coins they mention a pretty clear progression of ICO (security) to working token (commodity). People can infer from there as to where each coin sits.

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Would say the sec has more or less taken This approach, crack down on ICO ( securities). Xrp is often in The bullseye from media and bitcoin maxalmist ( part of spearheading actual institutional use). They were at least aware that sticking your head in the sand on This topic could filter the industry out of the US, and as pointed out is harder to get it back once it’s gone. When I am explaining crypto I actually think it’s easier to tell people your buying a commodity into a network, and the value is related to the use of the network. I like most of you am betting on the SEC outcome....but what I would take home from this is many of these token/coin etc will one day fall on The regulatory spear...and those that don’t plan will fail....

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4 minutes ago, Vvittin said:

Would say the sec has more or less taken This approach, crack down on ICO ( securities). Xrp is often in The bullseye from media and bitcoin maxalmist ( part of spearheading actual institutional use). They were at least aware that sticking your head in the sand on This topic could filter the industry out of the US, and as pointed out is harder to get it back once it’s gone. When I am explaining crypto I actually think it’s easier to tell people your buying a commodity into a network, and the value is related to the use of the network. I like most of you am betting on the SEC outcome....but what I would take home from this is many of these token/coin etc will one day fall on The regulatory spear...and those that don’t plan will fail....

Yup... there are only so many passes the SEC can give before they draw a line in the sand.

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