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Fred Rispoli goes after the Silly Enforcement Clowns


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Taken from the above Twiiter feed...

But this is America, damn it. The people still matter. You still matter. After Madoff, after Enron, after the Great Financial Crisis, the SEC continues to fail at a near constant rate everyone except its cronies. Worse, with regard to crypto, the SEC has compressed 20 years of its epic failures into 1 year: Celsius, Voyager, Three Arrows, Luna and of course, FTX. And the SEC was meeting with FTX, with Sam Bankman-Fried, trying to HELP THAT COMPANY destroy other US-based and international entities. Sick! I can’t take it anymore. Yesterday...

Hodl Law Cali (my CA domiciled firm) filed a federal lawsuit against the SEC in the Southern District of California on behalf of Hodl Law. It’s a “declaratory judgment action” seeking relief from the Court that the Ethereum Network and Ether digital currency unit ETH are NOT securities or investment contracts under the Securities Act of 1933. Hodl Law as a crypto-focused firm, assists clients with digital assets and utilizes them itself as well for business operations. Without regulatory clarity, the firm (and me) are subject to extreme danger and imminent harm given the SEC’s whimsical prosecutorial discretion and purposeful, weaponized ambiguity on whether it considers Ethereum a security. I look forward to seeing the SEC in Court.

Lastly, if you go to Hodl Law’s website, http://hodllaw.org, you’ll see a wallet address for Ethereum donations. At this stage, the firm has an ample war chest to take on the SEC so WE DO NOT NEED DONATIONS AT THIS TIME. Maybe later, but not now.

Oh yeah, don't want to forget this part, below is a link to the complaint. The SEC is now where it rightfully belongs--as The Defendant.



One of these day's I'm going to get paid for this news service :)

Work, work, work LOL.

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