#XRPHolders shouldn’t allow detractors to create and push a sour grapes narrative. Under the law, selective enforcement claims do not win and are not very persuasive. Just b/c #ETH got a free pass related to it’s ICO, doesn’t make #XRP a non-security.
Just b/c an argument can be made that, today, the #XRPL is more decentralized than the #Ether network - doesn’t mean #XRP isn’t a security. I watch #XRP or @Ripple detractors attempting to create the sour grapes narrative.
When someone asks me why today’s #XRP is not a security, I do not discuss or bring up #Ether in the answer.
What our opponents are attempting to do is dismiss our argument as “you’re upset b/c someone else broke the law and didn’t get sued.”
What our opponents are attempting to do is dismiss our argument as “you’re upset b/c someone else broke the law and didn’t get sued.”
Although I’m pushing for an investigation into the gross appearances of impropriety and the conflicts of interests related to Hinman, Clayton, Berger, and others, it is not my goal for the SEC to go after #Ether or any other crypto project.
Although some #XRP or Ripple haters celebrated the SEC’s enforcement action against #XRP, I will not celebrate the SEC going after any crypto. Outside the ICO scenario, I don’t believe the SEC is the proper agency to regulate and oversee the existing digital asset space.
I realize many people are outraged and appalled by certain individuals associated with the free pass, but I refuse to fall into the divide and conquer trap set by the SEC. What we want is an independent investigation - not the SEC going after #Ether.
Do you know how easy it would be for SEC to negotiate a deal w/ the #Ether founders and enter into a consent judgment wherein the founders agree to pay a fine for the $18 million they claim was raised by the ICO? Gensler could then claim he was an even handed “👮♀️ on the beat.”
Although I wrote the Ether Free Pass Memo and I’ve been outspoken about the gross appearances of impropriety, I don’t want the SEC going after Ethereum or any other crypto. This is a war against regulatory overreach and government intrusion over property rights, not other tokens.
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