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Is Ripple a Security?

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11 Comments

  1. Sounds to me that it was a 'fake' lawsuit set up to establish precedent for future lawsuits. Also, the fact Ripple took so long to respond, as well as announcing in the response the SEC's position on XRP, means the timing suited the interests of their customers (i.e. central and multinational banks/FIs).

  2. One of three things could be going on here.

    1. This is just what it seems. Some moron whiner with $500 to loose and enough money to retain a lawyer filed a BS lawsuit.
    2. A BTC maxi or someone aligned with that side filed this in an effort to hamper Ripple's plans. It remains to be seen of this was an effort they thought the could win and shut Ripple down, or if this was just meant to gum up the works for a while… perhaps to buy time for LN or to permanently harm Ripple's commercial aspirations. Most people seem to think this is it.
    3. Or, perhaps this was a plant by Ripple. Probably unlikely, but if that's the case, what would they have done differently? The most bogus lawsuit, with no standing, not bought directly from Ripple, no direct contact with Ripple, bought after the statute of limitations expired and oh yeah they already have a binding agreement from DOJ/FEDs that it's a currency (apparently a currency and a security are mutually exclusive). If you wanted to set up a slam dunk case and then ask for a dismissal with prejudice, what more could you do?

  3. JUST HAD A THOUGHT… WHAT IF RIPPLE IS WORKING WITH THE GUY HAD HIM PUT UP A STUPID LAWSUIT, SO THEY CAN PROVE XRP IS NOT A SECURITY..🤔 cuz that's what I'll do for the press cuz the sec is bullshitin

  4. While you are right that the government has a financial advantage when it comes to prosecution; I don’t think it would be any different if a private company was in charge of prosecuting wrong doers. They would still be able to fine law breakers and amass enough wealth to gain a financial advantage. And they would then hire private contractors to police and administer justice. The advantage of having the government doing this is that at least there is some kind of control that every day people have via voting. However, even now private corporations do influence the government.

  5. Most don't realize there are 2 systems of Law. There is Civil Law which pertains to US citizens and there is Common Law which pertains to US nationals….

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