Jump to content

Judge denies SEC access to Ripple legal documents


Danny
 Share

Recommended Posts

I found this on another forum

If the judge scratches her nose or yawns it is a huge victory for the XRP Army and Ripple, according to our favourite ambulance chaser lawyer but the case continues on its path to trial.

"The Court takes no position about whether Ripple’s pleaded defense is cognizable or if it will prove meritorious."

What would Jeremy "I make more money from Youtube adverts than from working as a lawyer" Hogan conclude if the judge belched or sneezed?

Link to comment
Share on other sites

13 minutes ago, xerxesramesepolybius said:

Why?

Because this ruling makes it almost certain that all pretrial sales of XRP by Ripple cannot be prosecuted as the knowing selling of securities (even if they are securities and even if the Ripple Execs had been told by their lawyer that they might be or are securities).  The defence is a free pass for Ripple to escape prosecution. 

If SEC then take this trial further, and lose on this point, as they almost certainly will given their corrupt and contradictory advice on what are securities in crypto space, they will give every crypto scam currency the same free pass Ripple have obtained.

For SEC this case is now about damage limitation.  At some point they have to settle or they will throw away all influence SEC has over crypto space.  They can however spin the settlement phase out in order to extract a higher fine from Ripple.

Link to comment
Share on other sites

43 minutes ago, Julian_Williams said:

Because this ruling makes it almost certain that all pretrial sales of XRP by Ripple cannot be prosecuted as the knowing selling of securities (even if they are securities and even if the Ripple Execs had been told by their lawyer that they might be or are securities).  The defence is a free pass for Ripple to escape prosecution. 

If SEC then take this trial further, and lose on this point, as they almost certainly will given their corrupt and contradictory advice on what are securities in crypto space, they will give every crypto scam currency the same free pass Ripple have obtained.

For SEC this case is now about damage limitation.  At some point they have to settle or they will throw away all influence SEC has over crypto space.  They can however spin the settlement phase out in order to extract a higher fine from Ripple.

I think you are jumping ahead Julian, that contradicts what the judge says about the merits of the case. 

We shall see won't we as the actual trial unfolds.

Link to comment
Share on other sites

1 hour ago, xerxesramesepolybius said:

I found this on another forum

If the judge scratches her nose or yawns it is a huge victory for the XRP Army and Ripple, according to our favourite ambulance chaser lawyer but the case continues on its path to trial.

"The Court takes no position about whether Ripple’s pleaded defense is cognizable or if it will prove meritorious."

What would Jeremy "I make more money from Youtube adverts than from working as a lawyer" Hogan conclude if the judge belched or sneezed?

Do you happen to have a link?

Link to comment
Share on other sites

1 hour ago, Julian_Williams said:

For SEC this case is now about damage limitation.  At some point they have to settle or they will throw away all influence SEC has over crypto space.  They can however spin the settlement phase out in order to extract a higher fine from Ripple.

I can't believe I'm saying this, but I hope the SEC settles so that they can actually enforce against the plethora of actual bad actors in the space.  I'm no fan of the SEC, but they need to be able to put the hammer down where needed.

Link to comment
Share on other sites

54 minutes ago, mrhat75 said:

I can't believe I'm saying this, but I hope the SEC settles so that they can actually enforce against the plethora of actual bad actors in the space.  I'm no fan of the SEC, but they need to be able to put the hammer down where needed.

This x100.

The SEC is making a mockery of itself and upending the entire space by ignoring actual criminality, sketchy exchanges or outright scams and instead going after one of the only assets with some utility. Absolute madness. 

Link to comment
Share on other sites

1 hour ago, thinlyspread said:

This x100.

The SEC is making a mockery of itself and upending the entire space by ignoring actual criminality, sketchy exchanges or outright scams and instead going after one of the only assets with some utility. Absolute madness. 

It's absolute madness to us who are in-the-know, but I wouldn't be surprised if the SEC of 2019/20 legitimately believed XRP was a scam. I'm still skeptical though. From everything Deaton has dug up, I'm inclined to think it was an orchestrated attack on XRP by Hinman, Clayton, etc... However, given years of defamatory posts on the internet that "XRP is a scam" "it's centralized" "XRP is a shitcoin!!!"... that type of messaging/propaganda could easily have manipulated those at the SEC into thinking XRP is something to go after.

Link to comment
Share on other sites

3 minutes ago, StellaBlueZerps said:

It's absolute madness to us who are in-the-know, but I wouldn't be surprised if the SEC of 2019/20 legitimately believed XRP was a scam. I'm still skeptical though. From everything Deaton has dug up, I'm inclined to think it was an orchestrated attack on XRP by Hinman, Clayton, etc... However, given years of defamatory posts on the internet that "XRP is a scam" "it's centralized" "XRP is a shitcoin!!!"... that type of messaging/propaganda could easily have manipulated those at the SEC into thinking XRP is something to go after.

They should have DYOR before going after them. 
what ever happens, Clayton and Hinman actions should be looked into in more detail to see if there was a conflict of interest, in how they declared both BTC and ETH as non securities 

Link to comment
Share on other sites

2 hours ago, mrhat75 said:

I can't believe I'm saying this, but I hope the SEC settles so that they can actually enforce against the plethora of actual bad actors in the space.  I'm no fan of the SEC, but they need to be able to put the hammer down where needed.

Agree....like bitconnect. That's the first good thing they have done to protect this space. I just can't believe they went after Ripple before bitconnect...absolute stupidity.

Link to comment
Share on other sites

It's funny who you ask at the SEC, because according to Mary Jo White an EX SEC chair, the SEC are dead wrong on this matter. So whose OPINION do you wish to adopt and that is the point of all this in some ways, it's like many have said, the SEC are talking out of both sides of their mouth at the same time. Without a legal framework, then it seems this whole SEC war on crypto will go on and on, until some higher entity steps in and sorts out this whole mess.

I do think the clown and henchman knew exactly what they were doing and were motivated by the greener (literally) pastures they moved on to, along with an FU to Brad as JC left the building. This whole thing stinks and JC and Henchman are at the heart of it.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.