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SEC Called me after I inquired about digital assets on an online forum.


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Does seem odd that the OP got a call back rather than email. Wondering if the government caller asked the OP "How much XRP do you own?" If I got that kind of question, I'd be very suspicious, and wouldn't answer that question.

The OP didn't provide details on his conversation so who knows? I'm not doubting the OP actually got the call. Just really curious about the questions the SEC asked.

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Did this guy have a Nigerian accent by chance?

I hope you gave him your credit card detail.

Okay

42 minutes ago, XRP_Legacy said:

It has to do as much as SEC called one poor man to discuss about XRP...give me a break

You should post your enlightening article about bitcoin in Alt section. 

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Just now, Robbieboy said:

wow, forum totally ragged on this guy...

Yes I agree.  It's not that anyone particularly targeted the OP deliberately,  I think,  but rather just a general cautiousness and scepticism in this space.  

I think the lesson we all need to learn (including myself in this) is to be more polite online than we are in real life since so much is lost when it's merely text in the conversation.

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3 minutes ago, Robbieboy said:

wow, forum totally ragged on this guy...

Yeah, I'm starting to feel some doubt.  I just couldn't believe the SEC would be tasking people to call individual citizens and chat it up, informally.  I'd never even considered what those conversations might be like.  And I suspect the SEC didn't either... :)  Now they know that whomever they speak to is gonna mangle whatever is actually said and post it on the web...

It didn't help me believe that the OP stated that SEC guy told him "the chairman" said BTC and ETH were both hunky-dory and "SEC-approved" (I'm sure that was Hinman - DivCorpFin - delivering some public comments somewhere - which got mangled and posted to the web - not Chairman Clayton) - so, I *really* didn't believe they'd be calling AND giving wrong info.

I also thought they already understood the space, fairly well, both from their surprisingly funny Howey website and from their recent enforcement actions against the pump-and-dump.

But, while offering a (potential) apology to the guy who started this thread, I stand by my Joe Pesci video to the guy who posted the generic 3-page FOIA denial doc as 'breaking news'.

So, that's one "potentially sorry" and one "not sorry".

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A Theoretical Conversation for display purposes only:


SEC:  Hi, this is Steve Snodgrass from the SEC.  As part of our Retail Investor Outreach Program (RIOP), we’d like to discuss with you, a random retail investor from the internet, our plans for the security classification of XRP.

Retail Investor (RI):  OK, shoot!

SEC:  Though we have many billion dollar financial institutions, global corporations and worldwide central banks awaiting our guidance in regards to the digital asset XRP and indeed, how we plan on dealing with the newest asset class in multiple centuries, we felt it was important to contact you, a random retail investor from the internet, and let you know how we’re coming along.

RI:  That’s great, I really appreciate the concern and the call.  So what’s the verdict?

SEC:  Unfortunately, we can’t tell you.  You’ll just have to see what happens.

RI:  Oh I see.  Is it ok if I write about this on the interwebs?

SEC:  You may freely write about this on any interweb forums but please do not give my name or the last 4 digits of this phone number.  If you do, I will disavow this completely unenlightening message.

RI:  Sure thing man.

SEC:  Bye.

RI:  Adios.

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