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#XRP The Security


LetHerRip
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https://medium.com/kinblog/a-new-chapter-begins-in-the-life-of-kin-and-the-kin-foundation-ddd26cb7ff50

The post-litigation settlement between KIN and the SEC may serve as a reference case.

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Beyond the monetary fine, Kik’s assets are still Kik’s property, including its remaining treasury, its Kin reserves, and all of its intellectual capital. 

The SEC has not asked to register Kin as a security, and didn’t impose trading restrictions on it. 

The judge’s ruling in the case and the terms of the settlement make it clear that the Kin cryptocurrency is not in violation of any securities law and should be free to trade on exchanges.

 

 

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I'm a long time hodler. For many years I have been following the sec or not discussion. It becomes a bit tiresome and the XRP coin is going nowhere.  I it goes to court I actually don't care what the judge rules, it would just be great to get this over with!

I hope that Ripple is smart enough to do the right things in either scenario. After that, if they succeed we might make a profit at some point in time.

If not.... ;-(

 

 

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I actually believe that a possible lawsuit  is a good omen for the xrp. This may be the way to officially establish that the XRP is not a security. Since it is the Ripple Labs that informed about this "planned" lawsuit (which is quite unusual to be honest to inform that the lawsuit may happen), maybe Ripple Labs is playing along with the SEC? Maybe this is the way to obtain a official ruling. I havent heard about any other oficial proceeding aimed at ruling whether ones asset is a security or not, you either file for securities issuance if you want to sell them or not - if you dont. Theres no motion for declaring you non security - so the lawsuit may be some kind of a workaround.

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Independent organizations also use XRP as a utility token for their products, directly and indirectly (e.g. R3 Corda / Xpring projects). So how can XRP even be a security? But I think we've had the discussion here in the forum a thousand times.

The sloppy part is that Ripple is the only organization in the crypto market that was and is open to regulators. It cannot be the fault of Ripple or XRP investors if there has been no clarity regarding the regulation of digital assets now and in the past.

I can understand Brad's excitement. It's like petting the silverback gorilla humbly every day, but in the end it leans against you and takes you hard on the kitchen table.

Edited by Karl
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Shout out to the forum...

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191. For example, on January 4, 2017, in an effort to assuage XRP investor concerns, Ripple told Institutional Investor C that Ripple “only sells or transfers XRP to financial institutions and accredited investors who bring payment volume and/or FX liquidity to Ripple.” Ripple made similar statements publicly, such as on its website, the “XRP Chat,” and certain Markets Reports.

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225. On June 3, 2016, Cryptographer-1 explained in the XRP Chat, in response to the question “if Ripple Failed, XRP died?”, that he didn’t “think it’s likely XRP would succeed without us, though it’s possible.” But, he continued, while “there are significant technical obstacles to using XRP as a bridge or vehicle currency[,] . . . [o]ur XRP strategy is based on promoting it as a bridging currency . . . through various strategies including paying traders an incentive.”

226. On January 21, 2017, Cryptographer-1 represented in the XRP Chat that Ripple was “heavily focused” on “building up an awesome payments infrastructure” using XRP and had “several strategies” to do so. Months later, on September 12, 2017, he posted on Reddit that Ripple had previously explained that it “will work to get XRP adopted for th[e] purpose” of serving as a “new intermediary asset” and noted “why that would be expected to create demand for XRP.”

 

Edited by ICookinBrine
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