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Hester Peirce (SEC) and Caitlin Long discuss crypto regulation


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The Path to Bitcoin Regulation (you will have to register for Real Vision Crypto to watch)

XRP is very briefly mentioned, but not the court case.

At around 32:00 Hester Peirce says

Quote

We've really muddied the waters because we often talk about it as if the crypto token itself is a security, when in reality it's the way that you sell it, it's the offer and sale that is the security, and that can be really difficult to disentangle. I think that's tripped up a lot of people and that's one of the reasons why I want us to be a little more clear and disciplined in the way we approach these determinations.

 

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23 hours ago, PunishmentOfLuxury said:

The Path to Bitcoin Regulation (you will have to register for Real Vision Crypto to watch)

XRP is very briefly mentioned, but not the court case.

At around 32:00 Hester Peirce says

 

Remarkable. This statement should basically mean that they can resume ODL as long as Ripple does not sell XRP as an investment contract. Which I think it does not at this point. So we'll see if ODL gets volume again.

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3 hours ago, SquaryBone said:

Remarkable. This statement should basically mean that they can resume ODL as long as Ripple does not sell XRP as an investment contract. Which I think it does not at this point. So we'll see if ODL gets volume again.

In what cases did Ripple sell XRP as an investment contract?

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1 hour ago, panmores said:

Ripple says ODL increased 12-fold year-on-year.

Not getting your point. Or you mean just because ODL disappeared from Utility Scan there is no more ODL?

Please show me the datapoints they used. ODL volume dropped to "zero" on utility scan the moment MGI did a press announcement about this. And a week or 2 before the SEC lawsuit announcement volume went from 7 to 1 million $ per day. Coming from 24 million $ daily in the beginning of the year when they pivoted because ODL was too successful and too profitable.

Let me explain very simply how this statement can be true however still ODL volume has stopped:

ODL volume for 2019: 2 million
ODL volume for 2020: 24 million

Saying volume is 12x year-on-year doesn't say jick shat. But let's wait until 2022 to get confirmation that they do another 12x from 2021 (which I hope they do). Volume has been low throughout the history of ODL/xRapid. 24 million $ daily sounds like a lot but if you compare to total volume... But yeah it's great to use the 12x statement and the "10% of US/Mexico corridor". It does not say anything about what is currently going on since the lawsuit.

It's not a security and it won't be seen as a security so MGI and Ripple (and all other major partners of course) can start using ODL again and we can stop crying about the lawsuit. And their investors can drop their lawsuit and all major banks on their platform can start using ODL so US/mexico corridor is 100% ODL.

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