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Xrp2damoon

Can someone please explain the SEC process...

Pablo

The title of this thread has been changed as the original title was misleading.

Title now changed to "Can someone please explain the SEC process..."

Message added by Pablo

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2 hours ago, Xrp2damoon said:

I’m kind of confused as to what’s going on with the sec deciding if xrp is a security or not. From what I know they already declared it as a security? 

From what I know an SEC official stated *as his personal opinion*, that BTC and ETH were not securities. No official statement from the SEC has been made on XRP or any other crypto. They have also stated the personal opinion was just that and no decision has been reached.

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Just now, lucky said:

second part of that statement is not true. nobody from the SEC has ever indicated a decision is pending about the status of XRP.

Sorry for the poor wording. I didn't mean to imply a decision is pending. The SEC hasn't officially indicated, to my knowledge, anything at all about securities classifications of crypto.

Thanks for catching that.

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4 hours ago, iLeeT said:

If XRP is a security then it better win some sort of a medal for the weirdest security out there. Ripple had their best year partnership and probably financially wise while XRP lost 80-90% of its value this year. 

Still, a lot of their revenue come from the sale of xrp no matter what the price is.

Edited by titi2018

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6 hours ago, XRPRealist said:

This could be resolved quicker than we anticipate or longer than we'd ever expect.  There are so many unknowns.

It is a riddle, wrapped in a mystery, inside an enigma.

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10 hours ago, titi2018 said:

Still, a lot of their revenue come from the sale of xrp no matter what the price is.

True. But this is just an asset on their books. They have quite a lot of it so obviously as any sane company they are trying to develop an ecosystem around it. They could have gold, oil on their books as well, doesn't make those things securities. Coinbase for example has a massive amount of BTC and I'm pretty sure a huge chunk of their revenue comes from selling BTC (obviously they don't publicly disclose this as Ripple do, but still) - does that make BTC a security? No. 

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