HAL1000 Posted July 21 Share Posted July 21 (edited) In the SEC v. Terraform Labs/Do Kwon case, the SEC has filed a pleading discussing Judge Torres’s decision in SEC v. Ripple in which it states that “SEC staff is considering the various available avenues for further review and intends to recommend that the SEC seek such review.” Pleading below. “SEC Says XRP Ruling Was Wrong, Signals It Will Appeal” https://www.wsj.com/livecoverage/stock-market-today-dow-jones-07-21-2023/card/sec-says-xrp-ruling-was-wrong-signals-it-will-appeal-oCqi2N05kHNT7MqOkDev Edited July 21 by HAL1000 JASCoder 1 Link to comment Share on other sites More sharing options...
HAL1000 Posted July 21 Author Share Posted July 21 (edited) The SEC what a bunch of unscrupulous scoundrels, trying once again, to twist the law, so as to come up with their own interpretation of securities law. This BS narrative is indicative of how they work, they won't even listen to judges. ETH gate is very real, but nobody at the SEC seems interested in dealing with their own criminal behaviour and cover up, this agency is a disgrace. F THE SEC, F GG and all his political friends & masters, when criminals try to take power, then it's time for the people to root them out. Decentralised justice nailed these Aholes and without the backlash from the XRP army and others, the SEC and friends, may have gotten away with it. Judge Torres and John Deaton are heroes, the SEC are the real criminals, they and their friends need to be rooted out, fired & voted out & some of them need to go to jail. Edited July 22 by HAL1000 Barefooter and DannyRipple 2 Link to comment Share on other sites More sharing options...
HAL1000 Posted July 21 Author Share Posted July 21 (edited) I will let an Aussie sum it up... It's an older vid but so worth watching And now the update... Edited July 22 by HAL1000 Link to comment Share on other sites More sharing options...
HAL1000 Posted July 22 Author Share Posted July 22 Until the SECGov can cite a single case where the Supreme Court added a Howey factor requiring the Judge to consider the level of sophistication of the investors entering into the common enterprise with the issuer/seller or a factor that requires the result, after the Howey application, to be consistent with policy considerations behind the 1934 Securities Act, the SEC lawyers sound just like the Prima Donna crybabies they are. Link to comment Share on other sites More sharing options...
HAL1000 Posted July 22 Author Share Posted July 22 READ FOOTNOTE 13 PEOPLE: “The Court holds only that a common enterprise existed between Ripple and the Institutional Buyers. The Court does not reach the question of whether the common enterprise extends to encompass "other XP holders." Defendants Garlinghouse and Larsen, the "XRP ecosystem," or any other entities.” The Common enterprise factor is even more difficult for the SEC to meet than the 3rd factor of the Howey test. Even if the SEC was successful appealing Judge Torres ruling, all that happens is a Remand and Judge Torres will likely decide the SEC failed to prove the common enterprise factor between Ripple and XRP holders in the secondary market. Remember, the SEC flip flopped it’s common enterprise theory THREE times, finally arguing that XRP itself represented the common enterprise. I think it’s time people start accepting that the SEC’s theory in this case was circular and conclusory and that’s why it lost. DannyRipple 1 Link to comment Share on other sites More sharing options...
HAL1000 Posted July 22 Author Share Posted July 22 DannyRipple 1 Link to comment Share on other sites More sharing options...
HAL1000 Posted July 22 Author Share Posted July 22 dtpace 1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now