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Judge denies SEC access to Ripple legal documents


Danny
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6 hours ago, xerxesramesepolybius said:

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.

You are misreading what the judge is saying.  She is saying she will not prejudge the the case about whether XRP is a security or whether Ripple was not given fair notice, but she will not accept that SEC can claim "subjective" knowledge as being relevant to her judgement

About fair notice - it is absolutely clear that SEC have been all over the place about not giving clarity, and even at times muddying the waters by by giving nods and winks to behaviour it now is claiming a reasonable person should know was unlawful.  On the fair notice aspect of this case they have already lost, but about whether XRP is a security is still to be decided if there is no summary judgement first that throws the case out.

It is all about settlement terms (a fine), and finding face-saving wording that is satisfactory to Ripple and for SEC to hide behind. 

 

Edited by Julian_Williams
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4 minutes ago, Julian_Williams said:

On the fair notice aspect of this case they have already lost, but about whether XRP is a security is still to be decided if there is no summary judgement first that throws the case out.

Which further begs the core question...

If the case is thrown out, then the "is a security" issue remains un-clarified, and in Ripple's case with its token hoard, awaiting our hapless US Congress to define the matter.

The key issue is, how will the markets, exchanges, and timid US financial institutions react ?

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2 minutes ago, JASCoder said:

Which further begs the core question...

If the case is thrown out, then the "is a security" issue remains un-clarified, and in Ripple's case with its token hoard, awaiting our hapless US Congress to define the matter.

The key issue is, how will the markets, exchanges, and timid US financial institutions react ?

SEC needs to avoid a "fair notice" judgement

Ripple need clarity

They have something to give each other in a settlement negotiation

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13 minutes ago, Julian_Williams said:

SEC needs to avoid a "fair notice" judgement

Ripple need clarity

They have something to give each other in a settlement negotiation

Then ideally, the SEC should do what they should have done in the GD first place...
Issue a safe harbor ruling, pending our lawmaker's doing their job. 

But would that be enough for our FIs remains to be seen I guess.

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4 hours 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.

maxisecs ....

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5 hours ago, HAL1000 said:

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.

The one who is being paid by Ripple?

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2 hours ago, JASCoder said:

Which further begs the core question...

If the case is thrown out, then the "is a security" issue remains un-clarified, and in Ripple's case with its token hoard, awaiting our hapless US Congress to define the matter.

The key issue is, how will the markets, exchanges, and timid US financial institutions react ?

There is always the class action

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