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Judge Netburn Spells It Out In Crayon for SEC


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OK ... not really in 'crayon' ... but, why she has to repeat what she clearly stated before is beyond me ...     

I think if I was Ripple I would prolong the settlement discussions long enough to get a view of the documents.   Maybe there will be a case in there for Ripple to sue SEC for malicious intent?  

They did bring in some veteran trial attorneys.  I think these docs help stack the deck and the SEC is a little nervous.

Maybe this order will encourage the SEC to settle the case as it may not want all those communications being public, and there could (very likely) be a lot of doubt in those memo or reports about whether the sales of xrp amounted to securities transactions.  If the SEC's own memos, reports and communications with third parties have questions about it, how was Ripple BG and CL supposed to know that they were knowingly selling securities when selling their xrp?  

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1 minute ago, RipMcGillicuddy said:

Still no ruling on the overseas approaches. Judge Netburn is really contemplating that one wow. 

I don’t think she'll do it. She's seen the incompetency of the SEC so far, I doubt she'll give them extra leverage given how poor they've been in disclosing their own information. 

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36 minutes ago, RipMcGillicuddy said:

Still no ruling on the overseas approaches. Judge Netburn is really contemplating that one wow. 

I guess I read "external agencies" as relating to the MOU's.  She didnt say external US agencies.  Wouldnt the SEC have to read that as all agencies that arent internal?  She also mentions "market participants" which are comm's related to companies involved with the sales of XRP.  This, too me, ties even more close to the MOU's because the SEC admitted they used the MOU's to get information from foreign exchanges.

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Posted (edited)
2 hours ago, RobertHarpool said:

OK ... not really in 'crayon' ... but, why she has to repeat what she clearly stated before is beyond me ...

You want to place a wager on whether SEC tries to interpret her phrase "discussing Bitcoin, Ethereum, and XRP" to mean those docs where only all 3 are mentioned in the same doc are responsive?  (Oxford comma sidebets?)

Edited by NightJanitor
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Posted (edited)

@NightJanitor ... I'll take that bet!! ... I'm certain that won't happen ... 

...because, if Tenreiro is true to previous behaviors, the SEC will reference Merriam-Webster and define "discussing" as verbal communication ... and they have no documentation of their (verbal) discussions .. 

:-P 

 

 

Edited by RobertHarpool
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11 minutes ago, RobertHarpool said:

@NightJanitor ... I'll take that bet!! ... I'm certain that won't happen ... 

...because, if Tenreiro is true to previous behaviors, the SEC will reference Merriam-Webster and define "discussing" as verbal communication ... and they have no documentation of their (verbal) discussions .. 

:-P 

 

 

playing dirty with the opposition is one thing, playing dirty with the judge is suicidal.

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Posted (edited)

Ripple want financial clarity and to be able to move their project forward.  SEC want a win and to avoid a scandal.  They both have something the other side wants and there is no room for making this worse.  My guess is Ripple will prolong this long enough to get the discovery docs, because that will give them more muscle, SEC probably want to settle now and not let their situation weaken any further. Just my guess.

Edited by Julian_Williams
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