SEC appeal, CL needs to go
Quote from zerpie on October 2, 2024, 10:39 pmQuick thoughts on the SEC appeal:
Ripple co-founder and Executive Chairman Chris Larsen has become a liability for the company.
Larsen, who committed millions to the election campaign of U.S. presidential candidate Kamala Harris and therefore the Biden-SEC status quo, needs to leave Ripple and donate his vast fortune to fight this anti-innovative establishment, and not to support it like Larsen does.
This SEC has been reprimanded again and again by judges in crypto cases. So this appeal in the Ripple case is the SEC stating: “We can,” just because they can. They give a fuck about the law. From a legal point of view, the appeal makes no sense. Remember, the SEC recently conceded that they made up the term “crypto asset securities.” There is no such thing. XRP is in the clear. And with this appeal, the SEC is maneuvering itself into a lose-lose situation. But again, they couldn’t care less about the law. They just do as they please because they can.
As frustrating as it is for XRP hodlers, nothing changes. Lawyer Jeremy Hogan rightfully states on X:
- Big mistake by the SEC. It will appeal the programmatic sales ruling and IF it wins, it will get more money from Ripple and have protected no one. Ripple will raise its “Blue Sky” law issue and, if it wins, the SEC’s ability to regulate the entire Crypto space is essentially destroyed. Not a good calculation of risk by the SEC (it would make a poor stock trader).
- Even IF the SEC were to “win” on appeal, it’s very very likely just a matter of money – nothing would change as to XRP and its use by Ripple. (…) The SEC (…) will NOT (and cannot) be appealing that ‘XRP is not a Security’.”
Read Jeremy’s whole post.
There would be no XRP ETF filings if there was real concern about an SEC appeal among leading industry players.
Ripple most likely has the RLUSD paperwork already in hand.
Nothing and nobody can stop making Ripple that dent in the universe. Not Chris Larsen, not the SEC.
But to not waste even more taxpayer money and time, a Trump government is the only way forward not only for the U.S.
(Know this folks, XRP is safe, as Ripple CEO Brad Garlinghouse points out anew: “While we’ll fight in court for as long as we need, let’s be clear: XRP’s status as a non-security is the law of the land today – and that does not change even in the face of this misguided – and infuriating – appeal. (Remember, when the SEC tried unsuccessfully to file an ‘interlocutory appeal’ they made clear they had no intention of challenging XRP’s status as a non-security.)”
Quick thoughts on the SEC appeal:
Ripple co-founder and Executive Chairman Chris Larsen has become a liability for the company.
Larsen, who committed millions to the election campaign of U.S. presidential candidate Kamala Harris and therefore the Biden-SEC status quo, needs to leave Ripple and donate his vast fortune to fight this anti-innovative establishment, and not to support it like Larsen does.
This SEC has been reprimanded again and again by judges in crypto cases. So this appeal in the Ripple case is the SEC stating: “We can,” just because they can. They give a fuck about the law. From a legal point of view, the appeal makes no sense. Remember, the SEC recently conceded that they made up the term “crypto asset securities.” There is no such thing. XRP is in the clear. And with this appeal, the SEC is maneuvering itself into a lose-lose situation. But again, they couldn’t care less about the law. They just do as they please because they can.
As frustrating as it is for XRP hodlers, nothing changes. Lawyer Jeremy Hogan rightfully states on X:
- Big mistake by the SEC. It will appeal the programmatic sales ruling and IF it wins, it will get more money from Ripple and have protected no one. Ripple will raise its “Blue Sky” law issue and, if it wins, the SEC’s ability to regulate the entire Crypto space is essentially destroyed. Not a good calculation of risk by the SEC (it would make a poor stock trader).
- Even IF the SEC were to “win” on appeal, it’s very very likely just a matter of money – nothing would change as to XRP and its use by Ripple. (…) The SEC (…) will NOT (and cannot) be appealing that ‘XRP is not a Security’.”
Read Jeremy’s whole post.
There would be no XRP ETF filings if there was real concern about an SEC appeal among leading industry players.
Ripple most likely has the RLUSD paperwork already in hand.
Nothing and nobody can stop making Ripple that dent in the universe. Not Chris Larsen, not the SEC.
But to not waste even more taxpayer money and time, a Trump government is the only way forward not only for the U.S.
(Know this folks, XRP is safe, as Ripple CEO Brad Garlinghouse points out anew: “While we’ll fight in court for as long as we need, let’s be clear: XRP’s status as a non-security is the law of the land today – and that does not change even in the face of this misguided – and infuriating – appeal. (Remember, when the SEC tried unsuccessfully to file an ‘interlocutory appeal’ they made clear they had no intention of challenging XRP’s status as a non-security.)”