FOX Business: An investigation into the SEC v Ripple case and its consequences for crypto

[Danny]

https://www.foxbusiness.com/features/sec-ripple-crypto-future-blockchain

Edited November 24, 2021 by Danny

[princesultan]

Such a long article it’s hard to get through. Is there anything in it that we don’t already know or is this just a regurgitation of the facts?

[Julian_Williams]

It seems to all be there on the public record written in long hand with a lot of care.  Clearly Fox's lawyers have been all over every word of this report.  I could not see any reference to the millions Hinman was paid during his tenure at SEC when he made his fee pass speech, but everything else is there in the most boring language, but many of the phrases used by youtubers has been slipped in.  Much of the language comes from you tubers.

Really goes deep in after Lubin and Ethereum

I guess this is a for the record report from which FOX will draw in the participants for further questioning by the media.

This is an invitation for the rest of the media to join in.  Does this blow the lid?  Will more of the media follow in where Fox have led?  I don't know how American politics works.

[peanut56]

  Long article that sums up the past year.

Concerning U.S. politics. It doesn't matter what is important for the nation concerning the matter. It depends on whether or not it is presented as a long term fix for those living from day to day. Ripple and xrp is good for migrant workers sending money home, it is good for businesses that purchase products over seas or ship products over seas. It is bad for large banks, who happen to have a lot of money and a lot influence.

The only way I see "politics" getting involved on a larger scale is if America sees it as a fix for world influence becuase another Nation (China or Russia) will adopt and implement the tech that will cause U.S. influence to significantly deminish.

[BillyOckham]

2 hours ago, Julian_Williams said:

I could not see any reference to the millions Hinman was paid during his tenure at SEC when he made his fee pass speech

Its there.

[BillyOckham]

Ironically I think that long article doesn’t go into enough detail.     

 

It belabours the “picking winners and losers” aspect and the “if ETH isn’t then neither is XRP” but misses many of the other defence aspects against the overreach of the SEC.

Fair notice for instance.  The various pillars of Howey that clearly are not met…   particularly “a common enterprise”.  I’m sure there are others.

 

But it also skims over a number of points and moves quickly on when they really needed better explaining.  The crippling aspect of Security status for a worldwide coin for example.  The result of endorsement of the bad tech while crippling the superior.

 

All in all,  its what I expect from journalists these days…   errors and omissions with a low signal to noise ratio.

 

[BillyOckham]

I forgot to mention the elephant in the room that they didn’t discuss….   the obvious alignment of motivations of the encumbent finance middlemen (the largest correspondent banks) and the legal firms these SEC guys come from.

The reason they will fight a disruptive technology that undoes their rentseeking monopoly.

[Julian_Williams]

7 hours ago, BillyOckham said:

Ironically I think that long article doesn’t go into enough detail.     

 

It belabours the “picking winners and losers” aspect and the “if ETH isn’t then neither is XRP” but misses many of the other defence aspects against the overreach of the SEC.

Fair notice for instance.  The various pillars of Howey that clearly are not met…   particularly “a common enterprise”.  I’m sure there are others.

 

But it also skims over a number of points and moves quickly on when they really needed better explaining.  The crippling aspect of Security status for a worldwide coin for example.  The result of endorsement of the bad tech while crippling the superior.

 

All in all,  its what I expect from journalists these days…   errors and omissions with a low signal to noise ratio.

 

I just found it a drudge and unreadable, which is why I ended up skimming it.  Well done you for wading through so many pages of unexciting writing.  It is a spring board and I guess other journalists will use it as a reference in the knowlede every word has been cleared by the lawyers.

I suppose none of the actors can go into a recording studio feeling safe, and none of them can go to FOX business.

[WrathofKahneman]

I was disappointed in the article.  It doesn't clearly delineate the issues and is not clear about the specific XRP case issues involved.  It also takes some cheap political shots in the process.  I suppose it's good to have national media coverage, but I'm not sure it will help understanding of what's going on beyond the headline.

Edited November 26, 2021 by WrathofKahneman

[HAL1000]

Moony Lambo does a good job of covering this for people who hate reading:-