Thread by @JohnEDeaton1

THE MOST SIGNIFICANT SECURITY CASE IN MODERN HISTORY

A REVIEW OF CLAIMS MADE IN @SEC_Enforcement vs. @Ripple, @bgarlinghouse, and @chrislarsensf

The @SEC_News and @SECEnfDirector along with Acting Chairwoman Herron Lee and former Chairman Jay Clayton seem to take issue,

as significant, that Ripple understood that #XRP purchasers routinely resold #XRP to other investors in the United States and other countries. See SEC First Amended Complaint p. 15, para. 88.

This issue of secondary market resales of Digital Assets was also
publicly discussed by Clayton on business channels such as @CNBC. In this clip below, Clayton literally says “if you trade a digital token in the secondary markets it could be a security”

cnbc.com/video/2018/06/…

Clayton refused to answer @BobPisani’s repeated questions on whether the SEC would provide clear guidance in the Digital Asset Space. #Ripple and #XRP are actually specifically brought to Clayton’s attention by Bob Pisani. In the 2018 interview, above, Clayton is directly asked

“ is #ETH and #XRP a security?” @MoonLamboio described this interview accurately and succinctly, in one of his videos, when he said:

“All #AssHatClayton would do is keep repeating: ‘if it’s a security we will regulate it.’”

The claim that because a Digital Asset is publicly

traded in secondary markets somehow transforms that Digital
Asset into a security is utterly absurd. If that fact is given any significant weight in determining what constitutes a security, then, as I’ve tweeted before, the SEC’s lawsuit against Ripple implicates all digital

currencies and/or Digital Assets. Clayton was asked if the @SEC_Enforcement would issue guidance in this nascent innovative space involving digital assets and he responded that there was no need to change anything or treat digital assets any different than any other asset since

1946. He said “we’ve been doing this a long time and there is NO NEED to change our fundamental approach.”

@HesterPeirce, is this the type of nonsense you deal with? Clayton & Herron Lee see no difference between 🍊 groves, pay ☎️s and blockchain technology? The 🇺🇸 is lost! 😡