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XRP News today: Ripple outlines its arguments for SEC court case





XRP News today: Ripple outlines its arguments for SEC court case

In all of its enforcement actions against startups that created tokens, the SEC has relied on the “Howey Test,” which comes from a 1946 case (SEC v. Howey) involving the selling of shares in a citrus grove.

The test determined, as former SEC official Bill Hinman explained at a Yahoo Finance crypto summit in 2018, that an offering represents a security if it “requires an investment of money in a common enterprise with an expectation of profit derived from the efforts of others.” In the SEC’s view, most initial coin offerings during the infamous ICO boom were securities offerings because the coins were marketed with the expectation that the price would rise, and also, as Hinman said, “sold to a wide audience rather than to persons who are likely to use them on the network.”

When it comes to XRP, Ripple begs to differ.

In its response to the SEC, Ripple wrote, “The SEC’s theory, that XRP is an investment contract, is wrong on the facts” and “amounts to an unprecedented and ill-conceived expansion of the Howey test and the SEC’s enforcement authority against digital assets.”

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Kraken to Halt XRP Trading for U.S. Residents

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14 comments

  1. Do you rate zilliqa mate

    Reply
  2. Xrp is a security, said it for the last three years. Justice will be served to the ponzi. Market cap is 1% of total crypto market cap. Don’t let the door hit you in the way out 🥳

    Reply
  3. On her right shoulder, HER right shoulder, is the BEST LOGO out there!! Great job young lady, you are unbelieveably AMAZING!! I would love to know how LONG did that take you to do all of that? And hey, by the way, please join in on our live streams and identify yourself as the one doing these incredible make up arts….we'd all love to meet & know you and you BETTER WELL come to Speculation Island with us when the time comes!!!

    Reply
  4. This is all a regulatory Criss cross of regulatory acts . FINcen green lighted ripple in 2015 at the knowledge of the sec for 6 years. FINcen would never have labeled it a currency if it wasn't legally so. Hence the legal conflict of the acts triggering multiple law suits. When this happens amendment to regulations is triggered and rules set in place. I am not a financial advisor but I am a certified regulatory compliance holder for financial services. With the certificate issued by CITIbank. This is not the first time regulatory acts crossed you up due to innovation. There is a rule book for these occasions governed by the FED. One branch of the fed cannot greenlight a listing while the other one watches and comes in and suits it 6 years latter as it will subject the government agencies to suits initiated by harmed participants. In the wake of deralict of duty. Hence it is termed "regulatory clarity" werby amendments are made to acts of conflict. Ripple is under a gag order and so is the SEC and even FINcen

    Reply
  5. Everyone: “its impossible for XRP to jump to anything 3 or 4 digits”

    Me: Didn’t BTC fall to .06 then jump to 1k the next day🥴🥴🥴

    Reply
  6. XRP N DNT COIN MOON TIME BABY

    Reply
  7. Everyone keeps talking about alt seasons… markets have trends. It hasn’t been a year from Bitcoins halving. This is just retail investors jumping in. Yes you can take advantage of the moment, but bitcoin hasn’t done anything yet. Just my opinion.

    Reply
  8. Just caught Brad and David trawling through your videos 🤣🤣

    Reply
  9. Exactly, and anyone mad thinking they were buying actual ripple stock are simply morons for investing into something that they didn’t do research on before they spent there money. 🤷🏽that’s there fault not xrp. I did my research before I bought. Why didn’t they

    Reply
  10. Wow how much they hate XRP wonder why even Bitcoin haters , I know xrp is something big it’s a precious diamond everyone knows that why everyone is against it ? I’m guessing they know the fundamentals of xrp that no other cryptocurrency can’t do. Xrp to the moon 🚀

    Reply
  11. The models are already banging on your door it seems!

    Reply
  12. The only reason we clarity is because big boys like Greyscale put xrp in Large Cap Funds and now dont want to go to prison. FACT!

    Reply
  13. Thanks for the information

    Reply
  14. Bg with the shout out 💪🏼

    Reply

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