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XRP a Security?? Well just recent as 2019 the SEC directly agreed that it was not!!


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10 hours ago, Neurotoxin said:

Yeah, I think the vast majority just misinterpret the lawsuit altogether. As has been said many times before, it’s not about wether or not XRP is a security, it’s about wether the way it was presented and sold during a specific period of time represented an investment contract or was misleading and violating the securities laws

Exactly. 

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"This agreement will enable MoneyGram to utilize Ripple’s xRapid product (XRP) in foreign exchange settlement as part of the MoneyGram’s cross-border payment process." Clearly the SEC implicitly

Please examine "Item 8.01 Other Events."  In the SEC filing between MG & Ripple.  The SEC approved this!!!  Actually the use of XRapid as it was called then is mentioned 5 times in this document.

SEC lawyer: Yes your honor, governments in other countries may say it's not a security, other branches of the US government may say it's not a security, when retail traders and institutions asked us w

4 minutes ago, brianwalden said:

This is the motte and bailey argument technique. The SEC makes is claims on such a way that they're broadly interpreted to mean that XRP is a security. Then when under pressure to actually prove its case in court, retreats to the much more specific claim that Ripple sold XRP as a part of investment contracts.

Yes, agree with this also – the approach and wording used by the SEC has been appalling especially given such a high profile case. 

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14 hours ago, brianwalden said:

But then why does every exchange's and even companies like MoneyGram's lawyers interpret it to mean that the SEC is claiming that XRP itself is a security and therefore they can't use it?  If the claim is merely that Ripple, CL, and BG sold XRP inappropriately, why can't you buy it from US exchanges?

A typical lawyer's "assume the worst" abundance of caution. 

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In the initial defense statement by ripple, It said,

"Trump administration tried to undo every achievements from Obama administration" 

This one sentence explains SEC's  behavior for me. 

Ripple was one of the selected candidates from the Faster Payment Task Force launched in 2015, under Obama. 

Ripple is probably selected new finance infrastructure from the competition and Trump administration wanted to crush it.

 

 

 

Edited by quan
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18 minutes ago, quan said:

In the initial defense statement by ripple, It said,

"Trump administration tried to undo every achievements from Obama administration" 

This one sentence explains SEC's  behavior for me. 

Ripple was one of the selected candidates from the Faster Payment Task Force launched in 2015, under Obama. 

Ripple is probably selected new finance infrastructure from the competition and Trump administration wanted to crush it.

 

 

 

This Vendetta is true, Trump purposely sought out to undo all things Obama, which eventually became his downfall.  I don't know how much this weighs on the SEC case but the facts still remain and this could very well be a last ditch effort to further undo all things Obama

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@HesterPeirce
@SEC_News
@SEC_Enforcement
@NewYork_SEC

Acting Chair Allison Herren Lee (202) 551-2800;  ChairmanOffice@sec.gov
Hester M. Peirce (202) 551-5080;  CommissionerPeirce@sec.gov
Elad L. Roisman (202) 551-2700  CommissionerRoisman@sec.gov
Caroline A. Crenshaw  (202) 551-5070 CommissionerCrenshaw@sec.gov


Fax numbers are:

703-914-4240
202-504-2474
202-772-9235
202-772-9273

Need more AMMO   :hunter:

Edited by pucksterpete
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On 2/25/2021 at 5:45 AM, RikkiTikki_is_Back said:

Please examine "Item 8.01 Other Events."  In the SEC filing between MG & Ripple.  The SEC approved this!!!  Actually the use of XRapid as it was called then is mentioned 5 times in this document.

SEC Filing | MoneyGram International, Inc.https://ir.moneygram.com/node/20381/html

Can you please mention this to John E Deaton on Twitter?

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I guess I'm still going to hound them

Quote

Dear ------: 

Thank you for your March 1 and March 3, 2021 emails to U.S. Securities and Exchange Commission (SEC) Acting Chairman Allison Herren Lee, and Commissioners Hester M. Peirce, Elad L. Roisman, and Caroline A. Crenshaw.  Your correspondence has been forwarded to the SEC’s Office of Investor Education and Advocacy (OIEA) for response.

We appreciate your informing us of your concerns regarding Ripple et. al.  As you may know, on December 22, 2020, the SEC filed a complaint against Ripple and two of its executives alleging that they had raised over $1.3 billion through an unregistered, ongoing digital asset securities offering.  The complaint alleges that Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide. The complaint also alleges that the defendants failed to register their offers and sales of XRP or satisfy any exemption from registration, in violation of the registration provisions of the federal securities laws. 

For additional information regarding the SEC's complaint in this matter, please visit the following locations on our website:  https://www.sec.gov/news/press-release/2020-338 and https://www.sec.gov/litigation/complaints/2020/comp-pr2020-338.pdf.  You may also want to monitor the following location on our website for additional information concerning the litigation as it becomes available:  http://www.sec.gov/divisions/enforce/claims.htm.

Once again, thank you for contacting the SEC.  If you have any questions, please feel free to contact David Powers, an OIEA staff member, at 202.551.6332, or via return email at help@sec.gov.

Sincerely,

Gloria Smith-Hill
Branch Chief
Office of Investor Education and Advocacy                        
U.S. Securities and Exchange Commission
(800) 732-0330
www.sec.gov
www.investor.gov
www.twitter.com/SEC_Investor_Ed

 

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