Biden SEC nominee Gary Gensler set for March 2 confirmation hearing

[Jack21]

It is much quicker than expected, the settlement might come very soon

https://www.theblockcrypto.com/linked/95717/gary-gensler-confirmation-hearing?utm_source=rss&utm_medium=rss

[Xrpdude]

This is way quicker than I expected, great news. I *think* it's great news, I mean.

Thing is, coming in I think he'll be keen to make his mark straight away. Personally I think he'll tred carefully, and won't rush into settlement. I just hope he values this as an American company, that could benefit America and the economy hugely. I think he'll see that, and won't want to kill ripple. This and how he rolls this out will be top agenda, unfortunately I don't think it will cross his mind once - I must do this quickly so XRP bag holders can go to the moon before this train ride comes to an end 😂

[Jack21]

11 minutes ago, Xrpdude said:

This is way quicker than I expected, great news. I *think* it's great news, I mean.

Thing is, coming in I think he'll be keen to make his mark straight away. Personally I think he'll tred carefully, and won't rush into settlement. I just hope he values this as an American company, that could benefit America and the economy hugely. I think he'll see that, and won't want to kill ripple. This and how he rolls this out will be top agenda, unfortunately I don't think it will cross his mind once - I must do this quickly so XRP bag holders can go to the moon before this train ride comes to an end 😂

Former SEC Chair Mary Jo might be some conversation with him as well. Better settle to save face before all proof are given to show how messy SEC is.

[Xrpdude]

Just now, Jack21 said:

Former SEC Chair Mary Jo might be some conversation with him as well. Better settle to save face before all proof are given to show how messy SEC is.

Yeah, maybe they know each other. But not necessarily, thing is chance he'll know someone that knows someone at ripple at the very least has to be high 

[HenrySeldom]

16 minutes ago, Xrpdude said:

Yeah, maybe they know each other. But not necessarily, thing is chance he'll know someone that knows someone at ripple at the very least has to be high 

"Maybe" 

Edited February 22, 2021 by HenrySeldom

[Jack21]

23 minutes ago, HenrySeldom said:

"Maybe" 

saw that before, yeah "might be"

 

Edited February 22, 2021 by Jack21

[Moonraker]

Yet again everyone in this forum is turning a negative into a positive.

I don't see how you can all consider this as good news when Gary Gensler has already publicly admitted that he thinks XRP is a security and that he doesn't hold any XRP himself. It's an uphill battle from the very beginning.

[VanGogh]

23 minutes ago, Moonraker said:

Gary Gensler has already publicly admitted that he thinks XRP is a security

He once thought that, a couple of years ago. Things have changed, and I'm still optimistic.

[KarmaCoverage]

2 hours ago, Jack21 said:

Former SEC Chair Mary Jo might be some conversation with him as well. Better settle to save face before all proof are given to show how messy SEC is.

He could also choose to "let it all out". Then use the dirt as a "Draw a Line in the Sand" moment. Thus need to exert more power to "clean up" the SEC's policies and try to make more of a systemic impact.

[Jack21]

10 minutes ago, KarmaCoverage said:

He could also choose to "let it all out". Then use the dirt as a "Draw a Line in the Sand" moment. Thus need to exert more power to "clean up" the SEC's policies and try to make more of a systemic impact.

This is another posibility, however I guess less likely, since many stakeholders will prevent him doing so by all cost. A lot of secrets should not be unfolded.

[Jack21]

1 hour ago, Moonraker said:

Yet again everyone in this forum is turning a negative into a positive.

I don't see how you can all consider this as good news when Gary Gensler has already publicly admitted that he thinks XRP is a security and that he doesn't hold any XRP himself. It's an uphill battle from the very beginning.

Last year, people call bitcoin dead and scam, now everyone want it. People do change their opinion based on fact. In fact, he said there is a chance not 100% certain and did not access to necesseary documents to form informed opinion.

Now, being head of SEC, he has eveything he need and the fact is that everybody has been asking SEC if xrp is securities with no answer, it means innocent until proven guilty, not securities.

If SEC wants to fight, reveals all communication regarding BTC and ETH are not securities.

 

[Archbob]

Ripple isn't the SEC's top priority right now. The whole Gamestop/Robinhood thing is for the time being. This will take a while most likely.

[Xrpdude]

@Archbobit's definitely ONE of their top priorities. They are incompetent, but they can work on more than one big thing at once surely? This is a billion dollar lawsuit

[Sporticus]

Zakinov filed a law suit against Ripple for violation of the securities laws and Ripple moved to dismiss but the federal judge refused.  The SEC filed a law suit against Ripple for violation of the securities laws.  Who  here  purchases XRP  for anything except to see its value to rise?  The SEC does not give a damned about Ripple's value. They only look at the law and whether it has been broken.    Bitstamp and the US exchanges do not allow Americans to trade XRP. I lost quite a lot at Bitstamp when they announced you could sell XRP but not purchase.  Gensler expressed in his lectures at MIT that he thought XRP was a security. The Ripple XRP project is dead in the US as far as I can tell.  It never really had a purpose that would cause its value to rise.  There are many more better technologies fro value transfer.  At eight years old, the project is an eternity in crypto terms.  I began trading Btc in 2013 and bought XRP in 2016.  Cryptotrading is a lot different now than then.  I am different now too.  I just do not see the value and the innovation has receded. 

 

[Guest]

7 minutes ago, Sporticus said:

Zakinov filed a law suit against Ripple for violation of the securities laws and Ripple moved to dismiss but the federal judge refused.  The SEC filed a law suit against Ripple for violation of the securities laws.  Who  here  purchases XRP  for anything except to see its value to rise?  The SEC does not give a damned about Ripple's value. They only look at the law and whether it has been broken.    Bitstamp and the US exchanges do not allow Americans to trade XRP. I lost quite a lot at Bitstamp when they announced you could sell XRP but not purchase.  Gensler expressed in his lectures at MIT that he thought XRP was a security. The Ripple XRP project is dead in the US as far as I can tell.  It never really had a purpose that would cause its value to rise.  There are many more better technologies fro value transfer.  At eight years old, the project is an eternity in crypto terms.  I began trading Btc in 2013 and bought XRP in 2016.  Cryptotrading is a lot different now than then.  I am different now too.  I just do not see the value and the innovation has receded. 

 

Aren't you a lawyer associated with the SEC who is also working with a potential competitor to Ripple?

If the SEC would have given regulatory clarity, the XRP ecosystem would be further developed. There's more than one entity trying to develop it. 

The fact that the SEC was approached about whether or not to list XRP by an exchange and the SEC didn't provide guidance and then months later sued Ripple, it just shows how badly they've navigated this space.

By that action alone and then bringing the lawsuit before Christmas eve, the SEC hurt retail investors, which is the opposite of protecting them. 

Then the resignations. 

What a disaster.