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IMO, the SDF needs to be proactive and get ahead of any SEC scrutiny. I think if the SDF takes a wait-and-see approach to the SEC enforcement, that will be a huge mistake. If they win over Ripple (either via lawsuit or a significant settlement), SDF the next obvious target. The biggest issue SDF has is the centralization concern by owning the majority of XLM tokens. They need to reduce this quickly without selling them for profit (which would only make things worse). They need to either burn or airdrop (in 1:1 ratio to current non-SDF wallets) enough XLM so they are much lower than majority control. Ideally, they should get it below 25%. Otherwise, it will cost them a lot more in SEC action and investors in XLM in price depreciation. Thoughts?

The level of delusion in this sub. How on earth is this a "good thing"? XRP could be delisted from all major exchanges.

Good luck offloading a cryptocurrency nobody can or wants to use.

Don't get emotionally attached to investments.

Has anyone actually read the filing? This is more than just XRP classification. There is tight out allegations of misconduct to line Ripple execs. pockets.

Question is what price does it go to after clarification

Source at /r/Ripple

This could come back to Jeb. He was made aware by their legal team that XRP could be labeled a security in October 2012. XRP Minted in Dec 2012. He didn't leave until 2013.

All the xrp gain from the recent rally is almost gone. RIP

This = XRP

Great read!

From what I’ve gathered so far, the issue is two of them paid themselves 600 million dollars...that’s what the charge is zeroing in on.

I think Stellar.org need to put out a statement about this, or else XLM will also face a massive sell off...

any reason why xlm has not moon shooted over this XRP news ?

the only way for Ripple to win the lawsuit is to burn all of their Holdings in XRP.

If it's a security then xrp technically become equity or a stock. The question remains that if it is a Ripple stock or a separate/independent stock.

The sentiment of OTC penny bagholders is pretty familiar here.

Fucking hell

Doomp et

This is the problem with XRP/Ripple. Its centralized.

https://www.reddit.com/r/CryptoCurrency/comments/ki7qol/sec_sues_ripple_lets_discuss_this/

My thoughts here https://www.reddit.com/r/Ripple/comments/khxo6e/daily_ripplexrp_discussion_thread_122220_join_our/ggp6gvd/?context=3

https://ripple.com/wp-content/uploads/2020/12/Ripple-Wells-Submission-Summary.pdf

https://twitter.com/yoshitaka_kitao/status/1341217896274378754

Japan’s FSA has already made it clear that XRP is not a security. I’m optimistic that Ripple will prevail in the final ruling in the US. SBI Holdings remains a steadfast partner to Ripple, and looks forward to expanding together in Asia.

https://twitter.com/s_alderoty/status/1341195277710069761

In 2015, the US Government concluded XRP was a virtual currency. Last I checked the SEC is still part of the US Government. Here’s the plus side - the industry will finally get the clarity it deserves. Goodbye “Howey test,” hello “Ripple test.” https://ripple.com/wp-content/uploads/2020/12/Ripple-Wells-Submission-Summary.pdf

https://twitter.com/bgarlinghouse/status/1341193536780214273

Today, the SEC voted to attack crypto. Chairman Jay Clayton - in his final act - is picking winners and trying to limit US innovation in the crypto industry to BTC and ETH.

We know crypto and blockchain technologies aren’t going anywhere. Ripple has and will continue to use XRP because it is the best digital asset for payments - speed, cost, scalability and energy efficiency. It’s traded on 200+ exchanges globally and will continue to thrive.

The SEC - out of step with other G20 countries & the rest of the US govt - should not be able to cherry-pick what innovation looks like (especially when their decision directly benefits China). Make no mistake, we are ready to fight and win - this battle is just beginning.

Charles Hoskinsons (Cardano) reaction to this news https://www.youtube.com/watch?v=t8i9DnR2t0Q

Vitalik (ETH2) reaction (lost all respect as far as I'm concerned) https://twitter.com/VitalikButerin/status/1341219519545556992

My take on all this:

1. This is US SEC, vaild for within the US ONLY, for most of XRP HODLers this has zero impact, 90% of Ripple's business is outside the US, majority of XRP (in circulation, Ripple and Jed and Larsen not counted) is held by non US citizens
2. Ripple tried the right things, Washington office, hiring bank(st)ers, ex SEC-ish folks, dealing with regulators and I'm really glad that this actually happened. Gloves are off and it's time to finally get that regulatory clarity with 2 years from now. This is gonna be huge ruling for all cryptocurrencies in general and unlike little KIKs and EOS they picked someone that can fight with big boys. I'm really looking forward to this and until it's settled my special membership in this subreddit will proudly be the XRP badge.
3. No more oranges, apples and fruit-like Howey tests, this time it's "XRP the standard" test, "the zero doubt" that SEC will make itself ridiculous.
4. The biggest bombshell on all this and do note that things are still unclear is that SEC didn't announced this but Ripple itself meaning that most likely that things were discussed behind the close doors and something blew up... It could be that nothing happens with new admin coming in but this is really unheard of what the current admin is doing with crypto-space in their last month. If you had any doubts which administration was the worst for crypto, now you know, it's this one.
5. The entire crypto sphere should be united on this and support team Ripple. If you really hate XRP and you're parroting what you've heard in this subreddit without your own research, I urge you think again. 80% of validators on the XRP Ledger are non-Ripple, they decide things and can change things without Ripple just like that.

If you have BTC and ETH and have https://en.wikipedia.org/wiki/Schadenfreude think again? Only 3-4 mining groups control over 50% of hashing power on Ethereum and Bitcoin networks and majority of miners is situated in China (see little pathetic tweet from Vitalik above, the dude lost all my respect!!). Imagine further US and China escalation? Now while you shit on XRP and Ripple think of this poem

https://en.wikipedia.org/wiki/First_they_came_... that I just changed for crypto world

First they came for Ripple, and I did not speak out—     Because I had no XRPThen they came for Ethereum, and I did not speak out—     Because I had no ETHThen they came for the altcoins, and I did not speak out—     Because I had no altcoinsThen they came for bitcoin HODLers—and there was no one left to speak for me.

I absolutely think that XRP and ETH (I just sold it cause I have zero respect for Vitalik) will still crush it next year and this is just a short-term setback for XRP HOLDers.

So, if you are happy that this happened to Ripple, rethink your position.

To XRP community, merry Xmas and happy holidays!

Is PayPal working with Hashgraph?

https://twitter.com/themonetaryres1/status/1340985580176338944

This just feels like some government folks want to get paid. Once they get paid there will be a big article about how Ripple has a green light, then we will see what happens.

From the FEDERAL REGISTER:

Remittance Transfers Under the Electronic Fund Transfer Act (Regulation E)

A Rule by the Consumer Financial Protection Bureau on 06/05/2020

The Bureau has continued to monitor the remittance transfer market since the publication of the Assessment Report and observes that most of these developments continue to progress. Examples include: (1) The continued growth and expanding functionality of the Society for Worldwide Interbank Financial Telecommunication (SWIFT)'s “global payment innovation” (gpi) tracking product, which can increase the amount of up-front information available to sending institutions, and the expansion of the major payment card networks' capacity to support cross-border payments; [57] (2) the continued growth of “fintech” nonbank remittance transfer providers and their further expansion into partnerships and other relationships with banks and credit unions, which allow such entities to tap into the closed network payment systems that nonbank remittance transfer providers have developed; [58] and (3) the continued growth and expanding partnerships of virtual currency companies, such as Ripple, which offer both a payments messaging platform to support cross-border money transfers as well as a virtual currency, XRP, which can be used to effect settlement of those transfers.[59]

XRP is down massively while other crypto keeps going up ... R.I.P.

people bringing up KIN ..lmaaaoooo, garbage coin worth 1 Sat.. and 10 trillion supply...hey hey heeeyyyyyyyyyyyyyyyyyy