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SEC Memo In Opposition To [John Deaton's] Motion To Intervene


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[...] But the Forman question is not whether an asset sold as a part of an investment contract has a "use" - most assets sold as part of an investment contract in fact do have some use (though the SEC disputes that XRP has any use). The legal question is whether the asset was offered and sold for use. [...]

This section tells a lot about the SEC lawyers' narrative and the origins of SEC internal brainwashing.

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https://www.crypto-law.us/wp-content/uploads/2021/05/SEC_Memorandum-of-Law_Opposing-Motion-to-Intervene-050321.pdf Just started to read it, but one good statement by the SEC is:  "this particular

But in a way they are doing exactly the same to the Courts that they did to Ripple; constantly moving the goalposts.  They are making Ripple's case for them.  The Courts are going to end up throwing t

We have been on this roundabout a few times.  I think somewhere SEC have said secondary sales can be securities, even after telling the court that they are not because of section 5 clause 4.  SEC chan

13 hours ago, kanaas said:

Remember that the main goal of this litigation was to hammer not just Ripple but also XRP markets.
How easy was and still is it for the SEC to say that ONLY the sales from Ripple and Ripple board members violated the securities laws? They (and we know exactly who "THEY" are) KNEW that by letting the whole of XRP sales in a gray zone, all US based exchanges would have to delist XRP if they wanted to avoid sanctions.

Exactly.

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On 5/4/2021 at 5:00 AM, Frisia said:

Well if the SEC would issue such a statement, wouldn't that be implicitly and officially announcing that the token XRP itself is not a security?

I dont think so, this would leave open the question "is XRP that Ripple Inc deploys via ODL, a loan of a virtual currency, or somehow a security issuance?"

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Ripple‘s ODL Product utilizes XRP as a bridge currency for immediate settlement. This exchange happens in a matter of seconds. There surely is no „investment for profit“ involved.

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