You probably know that I’m not the biggest fan of XRP but I’d be lying if I said I haven’t been paying close attention to what’s been going on between Ripple and the SEC.
I really do think that case could have serious implications for crypto, and there have been some seriously exciting updates there over the last few months.
For starter, you have the SEC contacting foreign regulators for documents about Ripple and XRP for them to use in court… without telling the court!
This is somehow allowed under US law, so long as the documents are being given voluntarily (which you could obviously debate). So far nothing damning has been discovered, at least not that I know of.
The big headline that some of you might remember is the judge allowing Ripple to bring in former SEC director Bill Hinman for questioning about whether XRP is a security and why.
Bill tried his best to try and make Ripple look like the bad guys, but slip ups in his own testimony add a lot of credibility to Ripple’s fair notice defense.
Another headline that you might have seen is the SEC getting access to Ripple’s Slack messages. This could be bad news for Ripple given that they refused to fork over direct messages between Ripple’s top executives. This tipped off the SEC that Ripple might be hiding something, and the judge obviously agreed there.
Even with that concern though, Ripple is looking pretty damn good, especially since they’re moments away from getting their hands on a damning document from the SEC titled ‘Legal Analysis of XRP’ which is going to be good for Ripple regardless of what it says.
Even if XRP does get designated as a security though, there are actually two ways it could be relisted on Coinbase and other exchanges.
If you’re wondering how the hell that’s possible, you’ll have to watch to find out!
⛓️ 🔗 Useful Links 🔗 ⛓️
► SEC Lawsuit Against Ripple: https://www.sec.gov/news/press-releas…
► Howey Test Explained: https://www.cryptoratingcouncil.com/f…
► Ripple’s Hinman Deposition Allowed: https://cointelegraph.com/news/judge-…
► Peirce Roisman Crypto Regulation Statement: https://www.sec.gov/news/public-state…
► SEC Gets Access To Slack Messages: https://cointelegraph.com/news/judge-…
► SEC Documents Ripple Wants To Get: https://www.dropbox.com/s/vde8gm2z07r…
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.