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The face the new SEC chair made when he heard about the case against Ripple
I have put more thought into the SEC thing. As of now I I don’t believe the case will ever see a court room. Reasons being. FinCEN has done a 2 year investigation on Ripple and deemed XRP a currency. (1/7)
I’m sure moneygram checked with the SEC and got the green light to use XRP so that contradicts itself. Multiple countries around the world have also declared XRP as a currency. (2/7)
The out going SEC administration left a pipe bomb for the new guys. After being allowed to operate for 8 years under the premise of not being or selling a security the SEC decides last minute to drop that bomb then quit ? (3/7)
What judge will look at that and say oh you have done nothing for 8 years but now want to do something. Not happening. Also instantly after the SEC lawsuit was announced somebody filed a class action lawsuit against coin base. (4/7)
If XRP is declared a security they’re will be class actions against every exchange. In turn the exchanges will sue the SEC. Ripple will SUE the SEC for basically de-frauding them and so on. (5/7)
If you were an incoming administration would you want to take a lawsuit you have had a month to prep for against one of the biggest and most connected tech companies in the world to court ? I highly doubt it. (6/7)
That’s also just thinking about the SEC vs Ripple case let alone the backlash that will come in the form of dozens of lawsuits against the SEC involving exchanges and people suing exchanges. (7/7)
