xrp flooding
- Thread starter Scanman
- Start date
The SEC doesn't get to retroactively punish people 8 years later because they refused to categorize a product.
The SEC doesn't get to retroactively punish people 8 years later because they refused to categorize a product.
They just did.
good for them, hope they've lined up friendly judges to rule in their favor
U long XRP?
Baron
ET Founder
“It’s an attack on the entire crypto industry and American innovation,” XRP CEO Brad Garlinghouse said in an emailed statement.
In an emailed statement, outside counsel Michael Kellogg, of Kellogg, Hansen, Todd, Figel & Frederick said, “This complaint is wrong as a matter of law. Other major branches of the U.S. government, including the Justice Department and the Treasury Department’s FinCen, have already determined that XRP is a currency. Transactions in XRP thus fall outside the scope of the federal securities laws. This is not the first time the SEC has tried to go beyond its statutory authority. The courts have corrected it before and will do so again.”
In an emailed statement, outside counsel Michael Kellogg, of Kellogg, Hansen, Todd, Figel & Frederick said, “This complaint is wrong as a matter of law. Other major branches of the U.S. government, including the Justice Department and the Treasury Department’s FinCen, have already determined that XRP is a currency. Transactions in XRP thus fall outside the scope of the federal securities laws. This is not the first time the SEC has tried to go beyond its statutory authority. The courts have corrected it before and will do so again.”