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SEC hearing today, some interesting early feedback from those on the call!


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I like attorney Deaton's take on the SEC casually saying that only Ripple employees could be deemed to be selling XRP as illegal securities: why didn't the SEC tell that to exchanges when they started to delist XRP (the delistings were a direct result of the SEC's lawsuit, and the delistings directly harmed XRP retail traders).  The SEC are either disingenuous (my opinion), or they are making themselves look like complete fools. 

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56 minutes ago, 2ndtimearound said:

I like attorney Deaton's take on the SEC casually saying that only Ripple employees could be deemed to be selling XRP as illegal securities: why didn't the SEC tell that to exchanges when they started to delist XRP (the delistings were a direct result of the SEC's lawsuit, and the delistings directly harmed XRP retail traders).  The SEC are either disingenuous (my opinion), or they are making themselves look like complete fools. 

I’m hoping this leads to exchanges relisting SOON. I’m expecting a rally (or at least some decent upwards price movement)as more people grow aware of this new information, and an even bigger rally when/if bitstamp and coinbase announce they relisted XRP or plan to at a future date. I already bought back a stack I had previously sold (slightly more cuz I bought it cheaper) and bought another stack with the BTC and ETH profits. I’m just here with my bag of popcorn waiting on news. Hopefully my optimism doesn’t jinx it :biggrin:

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9 hours ago, 2ndtimearound said:

I like attorney Deaton's take on the SEC casually saying that only Ripple employees could be deemed to be selling XRP as illegal securities: why didn't the SEC tell that to exchanges when they started to delist XRP (the delistings were a direct result of the SEC's lawsuit, and the delistings directly harmed XRP retail traders).  The SEC are either disingenuous (my opinion), or they are making themselves look like complete fools. 

I'd put my betting dollars on it being a corrupt abuse of power, either out of pure malice, or retribution from a failed extortion attempt.

But that's just my cynical opinion of that former "transactional" Administration we (thankfully) voted out. 

Edited by JASCoder
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2 hours ago, PunishmentOfLuxury said:

Deaton does not think that US exchanges will take the risk of re-lising XRP based purely upon what the SEC lawyer said:

 

Here's the thing: the SEC love to be vague to limit their accountability when they're in a tight spot like they are now.  Who are "affiliates" of Ripple (for example)? However, either an exchange could sell XRP legally, OR the SEC deem it an illegal act and they consider exchanges to be "affiliates" of Ripple.  There is no middle-ground.  When a judge starts to lose his/her patience with the SEC on this matter, the SEC will have to unequivocally state the clarity of the situation (finally).  When they do, and if it's the case that exchanges weren't breaking any law selling XRP, then why wouldn't exchanges seek damages from the SEC (i.e. take them to court) for loss of business?

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2 hours ago, 2ndtimearound said:

Here's the thing: the SEC love to be vague to limit their accountability when they're in a tight spot like they are now.  Who are "affiliates" of Ripple (for example)? However, either an exchange could sell XRP legally, OR the SEC deem it an illegal act and they consider exchanges to be "affiliates" of Ripple.  There is no middle-ground.  When a judge starts to lose his/her patience with the SEC on this matter, the SEC will have to unequivocally state the clarity of the situation (finally).  When they do, and if it's the case that exchanges weren't breaking any law selling XRP, then why wouldn't exchanges seek damages from the SEC (i.e. take them to court) for loss of business?

From Jeremy Hogan's Twitter :)

The term “affiliate” is defined in Rule 405 of the Securities Act of 1933 as a “person (or entity) that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with,” an issuer.  Tell me Coinbase, does Ripple control you?

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Just now, paym8 said:

does this mean any entity that ripple supported,invested in, and/or inserted a board member ?

Remember when Ripple donated like $30 million to DonorsChoose, way back in, what 2017 - and funded every single request on the site?  It'd mean them, too, since they sold the XRP that Ripple gave them, in order to turn it into cash and help every classroom in America... (Think all of the board members there are willing to turn over bank records?)

"Mr. Colbert, there's a subpoena here from a Mr. Tenreiro about your favorite kids' charity?"

Screen-Shot-2014-01-17-at-9.16.32-AM.png

Until there's clarity, SEC isn't going to be very popular.  Better overnight that no-action! :)

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I was thinking more of stake holding/shareholding such as moneygram & inserting board members, but having members on the board may just be observing menbers, but in some cases will be voting/controling members.

how does xspring fare in that they were offshoots of ripple, 

at the end of the day these types of entities will be accredited investors, so they can be sold/distributed to without propblems in future, so long as ripple complies & registers their holdings as securities if so ordered.

but what a can of worms ,ay

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4 hours ago, NightJanitor said:

"Mr. Colbert, there's a subpoena here from a Mr. Tenreiro about your favorite kids' charity?"

Screen-Shot-2014-01-17-at-9.16.32-AM.png

The Colbert repoooorrrr!!

Colbert on the Ert!!!!

😂 That show was way too funny. 

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