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James K. Filan

17 May, 4 tweets, 2 min read

1/4 #XRPCommunity #SEC_NEWS v. #Ripple #XRP The #SEC_NEWS has filed another objection to the Motion to Intervene. The SEC's mission statement is among other things to "protect investors." The SEC has argued from the beginning of this enforcement action that XRP is a security,

2/4 thereby arguing that XRP holders are actually XRP "investors." In its latest filing, it attacks XRP holders. It says "[b]ecause Movants are not seeking to appear as objective “friends of the court,” but rather to advance their own interests—to pursue claims against the SEC

3/4 —Defendants’ request that Movants appear as amici should be denied." Its clear that the SEC is antagonistic toward XRP holders and has no intention of protecting them or advancing XRP holders' interests. Which leads to only one conclusion:

4/4 The enforcement action brought by the SEC has never been intended to protect anyone or anything. Its only objective has been to destroy XRP, XRP holders, and Ripple. The SEC is horribly misguided and needs to end this travesty.

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More from @FilanLaw

James K. Filan

@FilanLaw

8 Apr

1/10 This is what Coinbase said in its S-1/A (Registration statement) filed (2021-03-17) regarding its determinations whether a crypto asset is a “security.” I found It interesting and informative.

“We have policies and procedures to analyze whether each crypto asset that

2/10 we seek to facilitate trading on our platform could be deemed to be a “security” under applicable laws. Our policies and procedures do not constitute a legal standard, but rather represent our company-developed scoring model, which permits us to make a risk-based assessment

3/10 regarding the likelihood that a particular crypto asset could be deemed a “security” under applicable laws. Regardless of our conclusions, we could be subject to legal or regulatory action in the event the SEC, a foreign regulatory authority, or a court were to determine

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