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Daily Discussion 09/29/21 [Join FlareXRP Discord] - discord.com/invite/FlareXRP
Gary Gensler's unwillingness to reign in the SEC's lawsuit against Ripple (and the lawsuit itself) will be examined in law school textbooks years from now as one of the biggest legal blunders in the agency's history
Ripple's Revised Response to SEC's Privilege Dispute
Jeremy Hogan comments on Ripple's recent response regarding privileged documents. Great point!
Charles Gasparino is putting together a detailed summary of the various alleged conflicts of interest involving the SEC case against Ripple.
CasinoCoin leading the Cambrian explosion of XRPL tokenization

Daily Discussion 09/29/21 [Join FlareXRP Discord] - discord.com/invite/FlareXRP

Posted: 28 Sep 2021 09:00 PM PDT

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Gary Gensler's unwillingness to reign in the SEC's lawsuit against Ripple (and the lawsuit itself) will be examined in law school textbooks years from now as one of the biggest legal blunders in the agency's history

Posted: 28 Sep 2021 09:07 PM PDT

Barring any surprise ruling from Judge Netburn (who has proven to be a highly intelligent and adept interpreter of the law), this lawsuit is turning out to be an immense blunder on behalf of the SEC. Further, Gensler was positioned in the perfect situation to bring his broad knowledge of cryptocurrencies and technology to the agency and to reign in a lawsuit that will damage the SEC's ability to further enforce against other cryptocurrencies after all this is settled. Instead, he's chosen to keep the course set by his corrupt predecessor.

The problem with pursuing Ripple is that it has the funds to secure some of the best lawyers in the industry, and already has secured former SEC employees to assist in both its expansion of business and its legal teams. What this means is that as every day passes, Ripple is launching more effective counterattacks against the SEC. And for every one that Judge Netburn rules in favor of Ripple, it becomes another documented legal weapon for every other cryptocurrency the SEC will choose to pursue after its attack on Ripple.

The SEC had a wonderful position to be proactive on both shepherding the innovation of new technology and to provide guidance for cryptocurrencies to thrive and grow. Instead, it's been timid and cowardly, most likely influenced by the existing financial system.

Make no mistake. If the SEC loses this case against Ripple, it will only be able to pursue other cryptocurrencies from a much weaker position. And even if there is a settlement, all of these rulings will be able to referred to by new defendants and will have to be re-examined, forcing the SEC to once again attempt to protect its power and push it towards a less favorable settlement.

This entire case, the corruption by Clayton, and Gensler's dumbfounding decision to stay the course with the lawsuit against Ripple and his unwillingness to provide a tech-favorable framework to the broader crypto-sphere will be examined by law students years from now to better understand how an agency in such a prime position weakened itself immensely through a series of blunders and mind-boggling decisions.

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Ripple's Revised Response to SEC's Privilege Dispute

Posted: 28 Sep 2021 05:29 PM PDT