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Show Summary
- Ripple's opposition to SEC's anticipated motion for an interlocutory appeal: Ripple opposes SEC's request for an interlocutory appeal, stating that no extraordinary circumstances justify departing from the rule requiring all issues to all parties to be resolved on appeal.
- XRP not a security: Reminder that XRP is not a security and even if the appeal is granted, it does not change the fact that XRP is not a security.
- Sales of digital assets alone are not inherently securities offerings: Judge Rakoff agreed with Tors that sales of digital assets alone are not inherently securities offerings. Ripple made no promises or offers to purchasers in programmatic sales.
- Ripple believes it makes more sense to ask for a regular appeal at the end of court proceedings: Ripple believes it makes more sense to ask for a regular appeal at the end of court proceedings that would permit a single round of appellate review on a complete record instead of piecemeal.
- SEC's overreach could create an opening for the Conservative Supreme Court majority: Dean's trip to law appealing toward decision could create an opening for the Conservative Supreme Court majority, which is already talking about overreach by the SEC on a wider range of issues.
- SEC Overreach: The meeting discussed an article that criticized the SEC's overreach in regulating crypto and highlighted the potential consequences of such actions.
- Codius: The meeting delved into the potential of Codius, an open hosting protocol that allows developers to write smart contracts in any programming language and is blockchain agnostic, offering flexibility and distribution in development with InterLedger.
- Hooks and Flare Networks Comparison: Comparing Hooks and Flare networks for their interoperability between chains and cross-compatibility with Ethereum virtual machine.
- Codius Project: Discussing the potential revival of the Codius project as a jack-of-all-trades platform for smart contracts.
- Central Bank Digital Currencies (CBDCs): Debating the benefits and drawbacks of CBDCs, focusing on their centralized nature and potential use by central banks.
- El Salvador's Bitcoin Adoption: Highlighting El Salvador's successful adoption of Bitcoin as legal tender, showcasing its potential for decentralization.
- Federal Reserve Audit: Arguing for the need to audit and potentially shut down the Federal Reserve due to its debt-based system that primarily benefits institutional investors.
- Central Banks and CBDCs: Chip is against central banks and believes they should be shut down. He suggests a sovereign currency on the blockchain without a third party running it.
- Coinbase Futures Commission: Coinbase has been approved as a registered futures commission merchant by the National Futures Association, allowing them to offer futures contracts in Bitcoin and Ethereum to eligible customers in the US.
- Monetizing Crypto: Chip warns against getting hung up on FUD and sensational headlines, encouraging critical thinking about crypto news.
Links to Articles We Discuss
We oppose the SEC’s request for an interlocutory appeal. There is no extraordinary circumstance here that would justify departing from the rule requiring all issues as to all parties to be resolved before an appeal. https://t.co/hjNIwEZkSt
— Stuart Alderoty (@s_alderoty) August 16, 2023
Reminder - the request for appeal (even if granted) doesn’t change the fact that XRP is not a security. That’s not up for debate / trial. But the SEC continues to claim that Chris and I acted recklessly in believing that XRP is not a security. That’s utter nonsense. 1/2 https://t.co/pG7z0jsjlt
— Brad Garlinghouse (@bgarlinghouse) August 16, 2023
🚨NEW: @Ripple files its response to the @SECGov’s anticipated interlocutory appeal.
— Eleanor Terrett (@EleanorTerrett) August 16, 2023
The company, @bgarlinghouse and @chrislarsensf oppose the appeal on the following grounds:
1. The Court's Order Does Not Involve a Controlling Question of Law.
2 The SEC Cannot Show a…
Ripple Strikes Back – SEC WARS – T-shirt
The SEC dropped a lawsuit at the end of 2020 alleging that Ripple sold XRP as an unregistered security. Ripple Strikes Back. Game on Bitchez.
In short, the SEC won on the law and lost on the facts. They shouldn’t be allowed to appeal the law they won on so it can be adjusted to the facts they lost on. That will just raise new legal issues, lead to further appeal points, and complicate everything. They should wait until… https://t.co/BMM0psLs9d
— Scott Chamberlain | 🏴☠️ 🪝 (@scotty2ten) August 16, 2023
Ripple makes solid arguments why the appeal shouldn't be allowed.
— Jeremy Hogan (@attorneyjeremy1) August 16, 2023
But if it IS allowed, Ripple is going to get its "contractual obligations" argument in front of the 2nd DCA and THAT will be something.
I'm talking Amicus Briefs raining from the heavens! https://t.co/5iq1cONGTZ pic.twitter.com/XjiPAXiMMt
#Codius could be one of the biggest and most important developments in the industry and it would give a whole new meaning to smart contracts.
— Panos 🔺 {X} 🪝 (@panosmek) August 15, 2023
But most people are not aware of what Codius is and how it works so it's time for a 🧵1/14https://t.co/Ur8B4CIEFb https://t.co/LEGWr4rE7H pic.twitter.com/7ZOJWCOaVt
Apex -Stefan Thomas and David Schwartz discussing Codius… ILP…. #XRPCommunity February 2022… pic.twitter.com/fzzCk1UShL
— MetaMan X ™️ (@MetaMan_X) August 15, 2023
If I won $10 million in the lottery, I would donate a quarter of it to charity.
— David "JoelKatz" Schwartz (@JoelKatz) August 15, 2023
What should I do with the other $9,999,999.75?
AI facial recognition may need a bit of work. pic.twitter.com/SjxTT0T2uu
— David "JoelKatz" Schwartz (@JoelKatz) August 16, 2023
Appealing the Torres decision “could create an opening for the conservative Supreme Court majority, which is already talking about regulatory overreach, to crimp SEC authority on a wider range of issues.” -@brookeamasters https://t.co/BqamNAQe2h
— CryptoLaw (@CryptoLawUS) August 16, 2023
The National Futures Association, a CFTC designated SRO, has approved Coinbase Financial Markets. as a registered Futures Commission Merchant .
— Coinbase 🛡️ (@coinbase) August 16, 2023
Coinbase can now offer futures contracts in BTC and ETH to eligible customers in the US.👇
Major moment for crypto regulatory clarity in the U.S.
— Brian Armstrong 🛡️ (@brian_armstrong) August 16, 2023
This has been a multi-year process toward approval, and we're excited to finally be launching federally regulated crypto derivatives with margin to our U.S. customers.
When there is a clear path to register, we do. https://t.co/TxSOAIpoPj
I hope that'll be enough! Otherwise, before you know it, OSKARCOIN will be trending on all the government accounts. I've no control over any of this.
— Oskar Arnarson (@oskararnarson) August 16, 2023
Return of the XRP - SEC WARS
Epic Fail Hall of Fame inducted Gary and the SEC on July 13, 2023. Their XRP-as-security claim collapsed while XRP coolly moonwalked into the sunset, sporting its sparkling legal clarity like a new pair of Ray-Bans.
