XRP: SEC Gives A Gift To RIPPLE | LEAKED Document, XRP – SWIFT

what do you think is the gift from the sec commissioner to ripple why do you think it is a gift from heavens for xrp and ripple have you got an idea of what all this good news is about stay tuned to learn more but first we are giving away 25 at the end of the month to one random subscriber to start on their xrp journey all you need to do is to like the video subscribe and comment your thoughts on xrp in the comment section welcome xrp army let's grow the xrp lab community by pressing the like button and subscribe in today's video we will be talking about the sec commissioner gives another gift to ripple before we get into the video don't forget to drop a like on this video and subscribe to the channel if you haven't already now let us dive right into it what do you think is the gift the sec commissioner had given to ripple i mean you can litigate a hundred cases and never receive a gift like this letter and i say it's a gift from the heavens because you know that the commissioners could never say on pending litigation this is what attorney jeremy hogan has spoken about it now we know you are wondering what the gift is aren't you well the news is that it turns out that two of the five sec commissioners acknowledge that the regulatory status of digital assets remains so characterized by decided lack of clarity said brad garlinghouse and chris larson's council in a letter to the court the document refers to sec commissioners hester pierce and alad l roysman who publicly stated that the only certainty we see is that people have questions about how to comply with the applicable laws and regulations so this is the bombshell sec commissioners had dropped on ripple that could save them from the lawsuit over the sale of xrp so now before we get deep into it let us look at the current price of xrp xrp's price at the time of making this video on the 21st of august 2021 saturday is 1.24 cents with a 24-hour trading volume of 6 hundred 690 one thousand four hundred thirty four dollars xrp price has increased by 3.1 percent in the last 24 hours it has a flowing supply of 46 billion xrp coins and a total supply of 100 billion if you are contemplating buying or selling xrp b2bx is currently the most active exchange so now back to it the individual defendants will be using the commissioners pierce and royceman statements regarding coin's schedule as part of their motion to dismiss the lawsuit against them the authoritative voices of both commissioners are likely to weaken the sec's position before the court other key quotes from their statement include although the commission has presented some guidance the large number of factors cut against the clarity the supervision was designed to offer people can study the particular cases but applying those clues to the facts of a different token offering does not certainly produce clear answers providing clear regulatory guide posts and then bringing implementation actions against people who ignore them is a better strategy than the clue by enforcement approach that we have embraced to date and that today's settlement embodies according to the individual defendant's counsel matthew solomon the statement confirms that charging garlinghouse and larson with an offense that requires knowledge or recklessness was and is legally untenable this additional authorization was filed on behalf of the individuals who filed to dismiss the lawsuit not for ripple still the latter will surely ask the court to take the judicial notice of the letter ripple's fourth affirmative defense is that the securities and exchange commission failed to provide fair notice that its conduct violated the law sec commissioners hester pierce and alad l royceman have offered quite a treat to the defendants as the case is widely watched by the fintech and trading industry in the united states and elsewhere also ahead in the sec versus ripple case is the deposition of william hinman on the 27th of july despite the probable stream of objections claiming privilege there are expectations that the ex-scc director will help clarify what happened during his speech in 2018 when he said ether is not a security this is the best piece of proof we've seen on the fair notice defense thus far and it would be exhibit numero uno in my motion for summary judgment mr hogan continued imagine you are the judge deciding whether ripple had fair notice it was violating the law and you look in the file and see a letter from two out of the five sec heads stating essentially that not only ripple didn't have fair notice no one had or has fair notice this statement from two sec commissioners is likely to tip the balance in the sec versus ripple in the lawsuit against brad garlinghouse and chris larson and it's relevant to both first for the individual defendants because the standard in that case is that the sec has to prove that the individual defendants knew or recklessly disregarded that ripple's offerings and sales of xrp required registration as securities and that those transactions were improper according to the lawyer that legal standard is similar to what ripple has to prove in its fair notice defense ripple claims that it did not have and plaintiff failed to provide fair notice that its conduct was in violation of law in contravention of ripple's due process rights mr hogan explained why ripple labs hadn't filed this letter yet ripple is going for the big win summary judgment which will present case criterion for it in all other crypto currencies the individuals are just trying to get out fast but by law you cannot file for summary judgment or at least have it heard until discovery is complete and we have another couple months before discovery is covered in the ripple case the attorney linked to the xrp community then pointed to third parties people and marketplaces checking the sec's moves instead of pretending it is their personal opinion and has no legal effect the two sec commissioners letter shows that their understandings are based on conversations with people from the industry ripple's fourth affirmative defense is that the securities and exchange commission failed to provide fair notice that its conduct violated the law sec commissioners hester pearce and aladdil royceman have offered quite a treat to the defendants as the case is widely watched by the fintech and trading industry in the united states and elsewhere in addition the ex-sec director is being accused by xrp holders of conflict of interest for his links to the ethereum alliance with ethereum being dragged to the lawsuit as ripple builds its fair notice defense it can be questioned if the sec could turn against ev to clean up its act the sec and ripple have stated they made progress on the privilege issues ahead of the deposition still ripple might need a special master to rule on the sec's objections on the other hand ripple has found massive support among the xrp community the xrp holders attorney john deeden even pitched basic questions that don't fall under the privilege argument the market following the lawsuit will likely be a key event as ripple looks to gain leverage against the securities and exchange commission to get the best settlement deal and possibly expose the agency's missteps however the best possible deal may still be bittersweet as the settlement could include certain restrictions that would bottleneck the flow of xrp according to attorney jeremy hogan the hinman deposition could also put pressure on if depending on what truths come to light besides what is already known including the scc revisiting the nature of ether if it is a security or not according to mr hogan the danger rating of ed and f2 being securities is relatively high natalia zaharova had said that xrp holders do not benefit directly from the performance of ripple labs and the market value of xrp does not correlate directly with the profitability of ripple labs and when asked how the lawsuit will play out it is difficult to say but it is not clear if the markets care about it it looks like they just want this case settled so now let us hope for a positive outcome fingers crossed so that is it for the day do you invest in xrp if you want to continue knowing about xrp we have two more videos waiting for you on the end screen to check out make sure to subscribe and give us a thumbs up thank you so much for watching see you in the next video before heading out kindly note that prices of cryptocurrencies frequently changed so by the time you watch this video it might have changed to a whole new value the information provided in this video does not constitute investment advice financial advice trading advice or any other sort of advice it would be best if you did not treat any of the content as such the content in this video is for educational purposes only and hence should not be considered as financial advice do conduct your due diligence and consult your financial advisor before making any investment decisions [Music] you

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