UBRI Connect 2021: Adam Sterling in Conversation with Ripple's General Counsel Stu Alderoty

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[Guest]

I think they both brought up great points. 

With that said, there are key arguments as to why the SEC is completely wrong and reckless. 

1.) They had eight years to educate themselves before enforcement actions. That is a long time. 

2.) The SEC clearly did not provide fair notice, partly because the organization had no clue as to how categorize the asset. 

3.) When they did take a public stance, through former Director Hinman, they declared ether was not a security. 

4.) Ether had an ICO. Go figure. 

5.) In an effort to cripple and bully Ripple, they used us, the retail investor they are sworn to protect, as collateral damage.

6.) Why ether and bitcoin? Because they say it is decentralized enough, without providing clear guidelines for how XRP decentralized enough in the secondary market, which is the market that applies to us. 

*Not to mention the business ties of Clayton and Hinman with firms associated with the Ethereum Alliance, which allows for their personal financial gains.*

When Adam says that, "this is just how the regulators work in the USA", I think he completely misses the point.

We don't need regulators to pick winners and losers and used archaic methods on how to regulate this space. We need trailblazers. We need leaders. We need to keep the interests of our country, The United States, first and those of our country women and men at the forefront, and we don't "do as we've always have done" if we want to remain global leaders.