Hi @Marc_Fagel, quick question. If, as is being reported, the SEC in the Ripple case is asking for a $2b judgement, is this just a request for a 1:1 correction, (a fine for $2b of tx's) or is there a punitive element meant to dissuade in that figure? Thx!
Everyone needs to understand what this is and isn’t! This is ONLY A PRE-MOTION LETTER. It’s asking the judge permission to file a formal motion asking for her to allow the SEC to then ask the 2nd Circuit Court of Appeals to accept an early appeal. It’s just like when I filed a pre-motion letter asking permission to file a motion to intervene. Granting the pre-motion letter does NOT mean she will grant the underlying motion (as in my case).
I expect Judge Torres to grant this motion. This will then allow her to even more fully explain her reasoning and to also further make it “appeal-proof”. It will also allow her an opportunity to address anything Rakoff said.
@Marc_Fagel@CryptoWendyO You seem so vested in trying to correct others when you yourself are incorrect at times. It’s ok. XRP army has dealt with that for years.
Summary of the SEC v. LBRY hearing.
Judge: "SEC, you need to be reasonable."
LBRY: "They won't be reasonable."
SEC: "We reserve the right to not be reasonable and probably won't."
Judge: "Well, okay then."
That, and @jeremykauffman being a boss.
These two paragraphs leap out. If this is their view - tokens are not investment contracts because investment contract requires a contract and secondary market sales come with no contracts attached - then it is indefensible that @Coinbase delisted, and has not relisted, XRP...