The SEC describes BITCOIN

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An even better way of putting it:-

So why go after Ripple / XRP when clearly this ex SEC commissioner said NOPE, DON'T DO IT in a letter to JOKER Clayton, along with Mary Jo White and as SEC commissioner Hester M. Peirce has stated:-

"When the tokens are not being sold as investment contracts, however, they are not securities at all. Tokens sold for use in a functioning network, rather than as investment contracts, fall outside the definition of securities”.

“Once “a network becomes truly decentralized, the ability to identify an issuer or promoter to make the requisite disclosure becomes less meaningful” and offers and sales of tokens are no longer subject to the securities laws”.

Add 12000+ people in a class action lawsuit AGAINST THE SEC to the above, and you would think just maybe the SEC could have gone after much better targets. This has got to be the stupidest thing the SEC has done, since giving Bernie Madoff a thorough investigation and a pass!

I will quote from the Madoff link above:-

It sometimes feels like we’re re-living the same stories over and over again with this agency. The same kinds of blindly political creatures keep getting promoted to the top jobs, while hardworking line investigators who are just trying to do the work keep running into the same kinds of ludicrous intra-office difficulties. They have to get a clue eventually – don’t they?  (Article published on May 31, 2013)