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Ripple notches win in SEC case over XRP cryptocurrency

reuters.com

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Re: Ripple notches win in SEC case over XRP cryptocurrency

#91

Post by burnte »

trompetenaccoun wrote: post #84
burnte wrote: post #61

Earlier quoted context omitted.

The unelected bureaucrats are authorized by duly elected politicians. They do not coalesce in office from the ether, they're put there by elected officials. It's not like there's no oversight.

They are not authorized to regulate which isn't their authority, they were breaking the law. I don't even like Ripple, I think it's a scam. But if the SEC can't even win on this one, which they clearly picked first because it would have been the easiest given it's extremely centralized nature, Gensler's game is over.

I wasn't responding to the case in general, only the "unelected bureaucrat" line.

Re: Ripple notches win in SEC case over XRP cryptocurrency

#93

Post by choppaface »

wonderwonder wrote: post #56
choppaface wrote: post #55

Earlier quoted context omitted.

Ripple still faces over $700m of unregistered security sales as part of the decision.

That's really not a lot of money for them to lose. This is a massive win for them and alt coins in general.

The liability to “sophisticated investors” prevents immediate dismissal. Now the court gets to see that complicated institutionals were speculating on XRP, and that means the Court will get to consider how easy it was to speculate or “invest.” XRP requires no mining, it’s a share offering no different than any security sale.

Re: Ripple notches win in SEC case over XRP cryptocurrency

#94

Post by choppaface »

yieldcrv wrote: post #81
choppaface wrote: post #54

Earlier quoted context omitted.

> Torres found the company's $728.9 million of XRP sales to hedge funds and other sophisticated buyers amounted to unregistered sales of securities It would probably have been a bigger win for Ripple had they gotten out of that one.

unregistered sales of securities aren’t violations of the securities act when relying on an exemption from registration, to accredited and qualified investors… just because they might not have filed a Reg D notice for their SAFE doesnt mean the whole transaction is invalid

But the key is the trial goes on and if not this court then some other will get to see that the buyers of XRP are buying shares of Ripple i.e. securities.

Re: Ripple notches win in SEC case over XRP cryptocurrency

#95

Post by eric_cc »

LikesPwsh wrote: post #57
eric_cc wrote: post #47

Earlier quoted context omitted.

> Forgive me, I know little about crypto, and am bearish on it Forgive me, how can you form a bearish opinion on something you know very little about?

It's not possible to sustain a magic money box where everyone can put money in and get more out. Many people get that far in their thinking, realise cryptocurrency is a bad investment, and leave it there.

Bitcoin IS money. Record high numbers of people are onboarding to bitcoin and not coming back to fiat. It’s just as much an “investment” as the US dollar is.
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