👀This is an SEC public statement about a CoinSchedule case today. The SEC notes their "reluctance to provide additional guidance about how to determine whether a token is being sold as part of a securities offering or which tokens are securities" and notes Howey is not clear.
I am not a lawyer, but it sure seems to serve up some juicy evidence for the current #Ripple case. So much so it does make you wonder what's happening behind the scenes! This could make waves, coming straight from the SEC.
SEC states it is unclear.
SEC states the Howey test is not always clear.
SEC states they are regulating through prosecution.
SEC says Coinschedule offered securities, but they didn't mention which of the 2500 offered were.
And my favorite line (maybe #Ripple's , too...);
"It is incumbent on us to answer those often complicated questions thoughtfully and in a timely manner.."
Interesting too, that the authors are Peirce and Roisman. Would the SEC publish something like this to grease the skids in court? Stay tuned, I guess.
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RippleX.io website shuts down end of July. Ripple heard feedback it's unclear where to find a unified portal to the XRPL ecosystem. Makes sense to move dev kits/ docs to XRPL.org as they clarify info sources. blog.ripplex.io/sunsetting-rip…
The RippleDev stream explored the new xrpl.org site as a place to build on the XRPL (tutorials!) built in concert with the XRPL foundation. It is meant to be a useful XRPL development portal.
But I think there is a further effect - intended or not. It's also a move underscoring the independent life of the XRPL, apart from Ripple. (Am I correct to say this differentiation has seemed in the works since around the time M.Long took over RippleX?)
Watching: Like #Ripple partners Santander and Nium, now Nomu Pay is buying up the remains of Wirecard, with their APAC entities. (Nomu Pay is not known to use Ripple/XRP) nomupay.com/post/nomu-pay-…
Their purchase of Wirecard Malaysia and Turkey just closed with Philippines, Thailand and Turkey, pending. To Ripple fans, these potential corridors are promising:
None of this is confirmation of anything #Ripple related -"APAC so hot right now"- but given other Ripple partners have snapped up Wirecard subsidiaries, Nomu Pay might be worth watching, even if it's not all remittance related.
Trying to get ahead of it: here is a sneak peak at the FUD about #XRP you will see over the next few months: 1) The new wallet will allow #Ripple to sell into XRP suppressing the price! 3) They won't need XRP! 2) Tokenization on the XRPL means that you can freeze accounts!
First, remember Ripple always has incentive for the price to accrue and it is better in the long run to get XRP on the market. With ODL we've seen that cashing out on the receiving end creates arbitrage. Is it also possible less XRP is on exchanges as it stays in wallets?
Second, yes, you can move tokenized assets on the XRPL -with stablecoins looming, but this might not even happen on ledger; just between wallets. It remains to be seen. On ledger, it would use a slight amount of XRP to move. XRP will always be the most efficient way to move value
I mean how could you not think that even if Ripple is working on their own custody solutions. 😆
2/7
The real story here is wallets. Offering a wallet is what a lot of big players in payments do. A wallet is a functional account to add services to. Visa does this for Visa Direct. 3/7 partner.visa.com/site/explore/d…
#Ripple partner Nium has acquired Wirecard Forex India Private Limited. Wirecard Forex is an FX exchange, pre-paid card, & remittance service provider licensed by the RBI as a Money Exchange Dealer (AD II). The aquisition opens up the subcontinent. nium.com/latest-news/ni…
Wirecard Forex has 23 branches in major cities with 190 employees. The deal is expected to close in the third quarter of 2021. It's an opening in a huge market with several payment methods. economictimes.indiatimes.com/tech/startups/…
Wirecard Forex India was a division of Wirecard AG which dissolved after ~$2b "disappeared" and several officials were arrested. FWIW, The CEO of SBI Ripple Asia once wrote about Wirecard and blockchain
KFH making some noise in the press, including mention of Ripple. (Apologies for translations:) The first:
"KFH has also recently launched Live FX Pricing, an instant transfer service to your home Turkey using RippleNet" aljarida.com/articles/16206…
These next two are also very recent and seem like they are working from the same underlying copy, perhaps a press release? This one mentions instant transfers with RippleNet in a sidebar. alraimedia.com/pdf/2021/05/27…
This one mentions KFH's services as well, including instant RippleNet transfers. The article is reporting KFH's earnings growth, hence seemingly largely like a duplicate. pdf.alanba.com.kw/pdf/2021/05/07…