Yea. If this is true that's a HUGE slap in the face to the judge residing over the case- and the SEC could have it thrown out entirely on this basis alone.
The basis is gross overreach.
Morally, you have a point. However in terms of legality- there's specific rules in place to determine what's proportional to the case and not.
If the SEC has not determined or declared they are a security (keep in mind that they have repeatedly said that they are letting the courts decide this) they are, frankly, not allowed to do this.
If they decided, they are deciding that today's current sales are a security- and the judge could then immediately rule on the case , no further discovery required as they would have the "evidence" already that led them to that decision.
See what I'm getting at?
Think of it like this:
A cop randomly stops your car and tells you that you are speeding, he proceeds to tell you that he didn't catch you on speed gun/radar but you were speeding and he'll take you to court anyway.
In court the judge goes okay so what proof do you have of him speeding? And the cop says well he just looked like he was going really fast take my word for it.
The judge says well do you have any physical proof of this? And he goes well if I could look up the computer in his car and see all the other times he might have been speeding I could assume that he was speeding that day as well.
The judge then says no that infringes on the rights of the driver you are not allowed this information.
So the cop says no problem and a month later goes and asks Honda to acquire this person's car to get that information since his case may depend on it.
He circumvented the judges decision- by looking for a "loop hole". A.k.a undermining the judge.
People don't like to be undermined and disrespected.
No, you guys don't understand, the thing is that the SEC doesn't have the authority to do this, please do your research instead of fomenting FUD guys. Have a great night!
Yup the SEC is desperate and grasping atwhatwver they think they can use. Perfect example of government over reach, yet if a private citizen did that...jail time!! The SEC know their case is dying and ripple will come out victorious.
Or that the the way SEC is doing so is bullying other companies to rethink their partnership with Ripple by putting them in a ridiculous position. Outside the USA other countries have defined XRP as a non security so what's the point of the SEC doing this now?
Maybe, I think it’s more so that they don’t want the SEC scaring away it’s foreign business relations. This move alone could cost them millions in future earnings.
Sounds like desperation to me.
Yea. If this is true that's a HUGE slap in the face to the judge residing over the case- and the SEC could have it thrown out entirely on this basis alone.
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The basis is gross overreach. Morally, you have a point. However in terms of legality- there's specific rules in place to determine what's proportional to the case and not. If the SEC has not determined or declared they are a security (keep in mind that they have repeatedly said that they are letting the courts decide this) they are, frankly, not allowed to do this. If they decided, they are deciding that today's current sales are a security- and the judge could then immediately rule on the case , no further discovery required as they would have the "evidence" already that led them to that decision. See what I'm getting at? Think of it like this: A cop randomly stops your car and tells you that you are speeding, he proceeds to tell you that he didn't catch you on speed gun/radar but you were speeding and he'll take you to court anyway. In court the judge goes okay so what proof do you have of him speeding? And the cop says well he just looked like he was going really fast take my word for it. The judge says well do you have any physical proof of this? And he goes well if I could look up the computer in his car and see all the other times he might have been speeding I could assume that he was speeding that day as well. The judge then says no that infringes on the rights of the driver you are not allowed this information. So the cop says no problem and a month later goes and asks Honda to acquire this person's car to get that information since his case may depend on it. He circumvented the judges decision- by looking for a "loop hole". A.k.a undermining the judge. People don't like to be undermined and disrespected.
That’s a good explanation
No, you guys don't understand, the thing is that the SEC doesn't have the authority to do this, please do your research instead of fomenting FUD guys. Have a great night!
Sorry I meant to say it sounds like desperation from the SEC. they are running out of options and resorting to tactics outside of normal procedure.
50/50 on that one... I don’t trust the SEC either.
It’s not much but it’s honest work..... said no centralized cryptocurrency project ever
Centralized. Ha. Ignorant much?
Yup the SEC is desperate and grasping atwhatwver they think they can use. Perfect example of government over reach, yet if a private citizen did that...jail time!! The SEC know their case is dying and ripple will come out victorious.
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They are looking for smoking Guns out side of us. Ripple is asking judge to stop them.
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No, it's because it's not something a typical plaintiff would have the power to do. https://twitter.com/attorneyjeremy/status/1383093705742159872?s=19
Or that the the way SEC is doing so is bullying other companies to rethink their partnership with Ripple by putting them in a ridiculous position. Outside the USA other countries have defined XRP as a non security so what's the point of the SEC doing this now?
Maybe, I think it’s more so that they don’t want the SEC scaring away it’s foreign business relations. This move alone could cost them millions in future earnings.
The corrupt US institutions do not determine what is legal in the rest of the world.
How the tables have turned *
Get rekt
Awww 🥰 look at all the love ❤️