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No cease and desist! No security!!


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I posted this because to me this stands out like a sore thumb!!  The SEC throughout this case with Ripple has Never issued a cease and desists order, which speaks volumes about what this case is about prolonging the inevitable.  If the SEC truly thought XRP was a security, there would have been a cease and desist order   

https://blockworks.co/sec-orders-crypto-startup-to-register-ico-tokens-or-face-31m-fine/

 

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https://www.sec.gov/about/offices/oia/oia_enforce/overviewenfor.pdf

In a civil enforcement action filed in a United States District Court, the
Commission can obtain a court order enjoining an individual from further violations of
the securities laws, disgorgement of any money obtained from the illegal conduct, and in
some circumstances, civil penalties. In addition, the Commission can impose civil
penalties against broker-dealers, investment advisers, and other regulated entities, as well
as individuals associated with those entities. In an administrative proceeding, the
Commission can require a respondent to "cease and desist" certain activities, disgorge
illegal profits, and institute procedures to prevent further violations. The Commission
can also, through administrative disciplinary proceedings, bar a firm from acting as a
securities firm or an investment adviser, bar an individual from associating with any
securities firm or investment adviser, or bar a professional from practice before the
Commission.

I haven't read the entire writing or am I a lawyer or legal expert, but it seems a cease and desist in its use by the SEC must be signed off on by a judge. If this is the case they probably knew and know now that they wouldn't get it. I wonder if they tried or if there is a way to find out if they tried and why the judge denied it. If such things exists I do not know.

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Posted (edited)
30 minutes ago, peanut56 said:

https://www.sec.gov/about/offices/oia/oia_enforce/overviewenfor.pdf

In a civil enforcement action filed in a United States District Court, the
Commission can obtain a court order enjoining an individual from further violations of
the securities laws, disgorgement of any money obtained from the illegal conduct, and in
some circumstances, civil penalties. In addition, the Commission can impose civil
penalties against broker-dealers, investment advisers, and other regulated entities, as well
as individuals associated with those entities. In an administrative proceeding, the
Commission can require a respondent to "cease and desist" certain activities, disgorge
illegal profits, and institute procedures to prevent further violations. The Commission
can also, through administrative disciplinary proceedings, bar a firm from acting as a
securities firm or an investment adviser, bar an individual from associating with any
securities firm or investment adviser, or bar a professional from practice before the
Commission.

I haven't read the entire writing or am I a lawyer or legal expert, but it seems a cease and desist in its use by the SEC must be signed off on by a judge. If this is the case they probably knew and know now that they wouldn't get it. I wonder if they tried or if there is a way to find out if they tried and why the judge denied it. If such things exists I do not know.

I agree, either they tried and got denied, or they felt that trying would yield the same results.  I'm more opt to believe they did their due diligence and knew it would be damn near impossible to have a judge agree on a cease and desist order with the shoddy facts they have presented.  I would love to see one of the favorite youtubbers go down this rabbit hole!!

Edited by RikkiTikki_is_Back
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Someone needs to ask Gary Gensler and even Billy Boy Hinman why have they not sought a cease and desist order if they truly believe XRP is a security?? Seems like that is a pretty procedural step when the SEC thinks something is a security why deviate here??

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3 hours ago, RikkiTikki_is_Back said:

Someone needs to ask Gary Gensler and even Billy Boy Hinman why have they not sought a cease and desist order if they truly believe XRP is a security?? Seems like that is a pretty procedural step when the SEC thinks something is a security why deviate here??

Add to that, how the SEC never moved to block Ripple Lab's deals with the publicly traded MGI ! 

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