How did you apply Howey Test to XRP?” – Ripple demands answers from SEC

[HAL1000]

https://www.crypto-news-flash.com/how-did-you-apply-howey-test-to-xrp-ripple-demands-answers-from-sec/

[Julian_Williams]

These are obvious questions

Define which transactions are security contracts in blockchain?  Which trades are security contracts and which are no, how the conclusions are drawn?  Without such basic information the defendants cannot build a defence and the judge cannot make a judgement.

It seems Hester Pierce doesn't know the answer, but  Gensler says the previous administration made clear for years before the trial.   Such information should be clearly explained on teh charge sheet in the information to prosecute Ripple, BG and CL

Edited September 3, 2021 by Julian_Williams

[HAL1000]

At this point this whole case is more than just a joke, it's a scandal, which is happening in real-time right before our eyes. The clowns at the SEC are trying to get the judge to rule XRP a security, based on Ripple, having NOT had an ICO and claiming XRP is different in some ways to ETH!  This judge ain't stupid and knows the SEC itself has had no real clarity on the status of XRP and hasn't for years, so some at the SEC are deliberately abusing the law's ambiguity for personal gain and other reasons. The SEC is on trial, not Ripple, it sometimes makes me wonder, is GG really that stupid or corrupt or living in an ivory tower, that he can't see that!

The belligerence of JC and GG is astounding to any normal person watching this unfold, they obviously think they're untouchable, but time will tell on that. They should keep in mind that there is more than one side in all of this and some of those sides have some very powerful allies, it's not just us little people here getting pissed off and annoyed. GG should also keep in mind that when bigger games are being played, some PAWNS can be placed in positions, so they can be sacrificed and blamed etc if needs be!

Edited September 3, 2021 by HAL1000

[Julian_Williams]

1 hour ago, HAL1000 said:

At this point this whole case is more than just a joke, it's a scandal, which is happening in real-time right before our eyes. The clowns at the SEC are trying to get the judge to rule XRP a security, based on Ripple, having NOT had an ICO and claiming XRP is different in some ways to ETH!  This judge ain't stupid and knows the SEC itself has had no real clarity on the status of XRP and hasn't for years, so some at the SEC are deliberately abusing the law's ambiguity for personal gain and other reasons. The SEC is on trial, not Ripple, it sometimes makes me wonder, is GG really that stupid or corrupt or living in an ivory tower, that he can't see that!

The belligerence of JC and GG is astounding to any normal person watching this unfold, they obviously think they're untouchable, but time will tell on that. They should keep in mind that there is more than one side in all of this and some of those sides have some very powerful allies, it's not just us little people here getting pissed off and annoyed.

 

When GG talks he comes across as intelligent but I have come to the conclusion that he is stupid because there is no strategy behind his actions.   Unfortunately it is very hard to second guess what a stupid person will do next, because stupid people often will not do the sensible thing.  I guess he probably has been told by his lawyers back in March that he has got himself into a hole and that the more he digs the harder it is to find a graceful exit strategy, but he still has not stopped digging deeper.  Perhaps he is so stupid that he thinks he will eventually come out in Australia and everything will be roses from then on 

As we all know GG's own commissioners do not agree with him that they, or any reasonable person, could without guidance and policy statements from the SEC know where the security line is drawn on DA usage.  The statements that ETH are not securities but all XRP transactions on the XRPL are securities just makes it harder to know how the line has been drawn by the divided (3:2) SEC board of commissioners. 

Under GG's stewardship this case has gone to the dogs, and that is a fact.

 

Edited September 3, 2021 by Julian_Williams