- Nhận đường liên kết
- X
- Ứng dụng khác
- Nhận đường liên kết
- X
- Ứng dụng khác
Posted 55 seconds ago | by Catoshi Nakamoto
The landmark case between the SEC and Ripple Labs is well into the 12th round with the closing bell only seconds away. It’s been a long, drawn out fight with plenty of twists and turns, and it’s the SEC who’ve taken the most damage by far. In fact, with Ripple almost certain to win on points if not a last-minute TKO, Gary Gensler is preparing the attack dogs for his next opponents in the crypto space. And with Ripple likely to have the case in the rearview mirror any day now, XRP holders are getting excited for the next leg up. Today, we’ll be looking at what this regulatory FUD means for crypto and DeFi as a whole, as well as diving into some huge developments coming for XRP.
Read More Let’s get it. Welcome to BitBoy Crypto, home of the BitSquad – the largest and greatest crypto community in all the interwebs. My name is Ben. Every day on this channel I show you how to make money in crypto. If you like money and crypto be sure to hit that subscribe button and smash that like. In this video, we take a look at some explosive news for XRP. Ripple turned up the heat last week with a sneaky counterpunch: a motion compelling the SEC to produce information about their employees’ crypto holdings: namely Bitcoin, Ethereum, and of, course XRP. Why is this such a killer move? Because it’s illegal for anyone in the SEC to trade securities. Which makes sense. I mean that would be an obvious case of insider trading. So if the SEC believe it to be a security, then it’s a big no-no for anyone on the inside to dabble in XRP. Well they’ve got a serious headache on their hands if it turns out their own staff were ‘permitted to trade it as late as March 9, 2019, and possibly thereafter.” Suffice to say they refused to produce any information and even counter filed, calling it… ‘irrelevant’. Seriously? Then they went on to explain that employees trading activity is collected by an “Ethics Counsel,” so handing over “sensitive data” would be a breach to their privacy. I mean you got to hand it to these guys, they’ve got some serious cojones: they’ve been hounding Ripple for private information from its staff for years – so they’ve clearly got something to hide. Because you can be sure they’d happily produce anything that could boost their chances of a last-minute victory. In the meantime, the ball is in their court after Ripple’s lawyers filed a motion compelling them to improve their answers to a series of questions: this is last round stuff, basically asking the SEC to lay out their case, in writing and under oath, about the application of securities law in relation to XRP. Good luck – they’re gonna need it. Just like we need to keep getting our content out so be sure to smash that like and subscribe button. Yes, as far as this case is concerned, Gensler is on pretty thin ice right now. Just check out this recently leaked video of him enjoying some golf over the Labour Day weekend. He might look like Gollum, but don’t be fooled: this guy’s down to throw hands and he’s only just getting started. Guess what. That wasn’t even a picture of Gary – that’s literally his evil twin! Anyway, it seems that Uni Labs could be the next in line for a bit of action, with DeFi and governance tokens next up on the hit list. If DeFi’s the Wild West as he recently said, then he likes to think of himself as a kind of Clint Eastwood type… or Dirty Garry. According to Gabriel Shapiro at Delphi Labs, “DeFi projects are starting to get letters from the SEC’ and ‘inquiries from other regulators’, but it’s worth pointing out that an investigation is more a request for information. It’s HOWIE the SEC likes to do things… and by no means an accusation of any wrongdoing. But let’s face it, when there is zero clarity surrounding the laws youre supposed to be protecting, then it gets pretty easy to point the finger and cry foul play. The latest company to find themselves ‘In The Line of Fire’ is Coinbase. More specifically their upcoming yield platform, Lend. Just as Coinbase was about to dip its toes into the DeFi pool, the SEC arrived like the harbinger of doom with a Wells notice threatening to sue them. And yet according to Coinbase they’ve received no explanation as to why, or what law they’d even be breaking. In typical SEC style they seem hellbent on calling things ‘securities’ but refuse any explanation. In reponse, Coinbase CEO Brian Armstrong posted on Twitter, calling out the SEC’s ‘sketchy behaviour’. Takes one to know one Brian. The post covered the total lack of clarity from regulators, the obvious need for new and coherent guidelines, plus the fact that despite his efforts to arrange a meet with them in December,he was told ‘they were not meeting with crypto companies.’. Now if you’ve been watching our live shows you’ll know I’m pretty skeptical about this so-called threat from the SEC. The connections between Gensler, Coinbase and the Digital Currency Group are shady to say the least: this could be a kind of staged FUD or political theatre. A potential warning sign to companies like BlockFi and Celsius. In other words, I’d be pretty surprised to see this escalate in any serious way. But it’s interesting how the issue is dividing opinion online. You’ve got people like Mark Cuban saying Coinbase should ‘go on the offensive’, pointing out that this is regulation by litigation. Which it is. Just like with Ripple: the SEC are kicking crypto, DeFi and stablecoins into the courthouses and get the judges to create a legal precedent. Apparently, that’s easier than, you know, actually doing their job and defining regulations. But on the other side of the coin is another Celebrity Crypto genius, Jim Cramer. And we’re certainly in agreement on one thing . Full disclaimer that was taken way out of context. Unlike Mark Cuban, he thinks calling the SEC sketchy on Twitter was, and I quote, the stupidest thing he’s ever seen. After all the SEC have unlimited firepower and if they decide to go for you, well, you’re in for a fist fight. Here’s my take: this all comes down to who are the SEC actually protecting. Because let’s face it: are they looking out for consumer? Or are they defending the banks? I mean who can blame them. DeFi lending is a threat to the legacy system. As ShapeShift COO put it: how dare anyone try to keep pace with inflation! It was also pretty concerning how the SEC were allegedly asking for the details of everyone on the wait list for the Lend platform. Like, what is this? A retaliation for Ripple labs requesting info about their employees? Who are literally supposed work for us, the US citizens? This is school yard stuff and an indication of what the SEC might be capable of in future. It seems pretty obvious who they’re protecting here, and it’s not your everyday retail investor. Here’s the good news. Crypto is decentralized. So although don’t a have lobby like the banks… we don’t need one. Our community is so much bigger, and together we’re just as powerful if not more. The more crypto fights, the stronger it gets. And with the SEC is showing its hand and proving how corrupt it is, at least we know what we’re up against. Okay, so with Dirty Garry moving on from the Ripple case he’s about lose, what’s next for XRP? Well I’ve said again and again: with the lawsuit done we should see some face-melting moves. In the meantime though, XRP took a decent hit this week when IMF decided to tank Bitcoin. In fact, it suffered worse than a lot of the alts. Ouch. Not a headline you want to see unless you were buying the dip. XRP is back in the zone: this rectangle here has been an area of support and resistance across the year. But the XRP army know exactly what they’re investing in and it’s why they’re so bullish on the long term potential. I mean, they’ve withstood a super testing period with all the litigation, and it’s only strengthened their belief. Why? Because they know that while the legal fight was dominating headlines, Ripple were making serious headway behind the scenes. Check it out. Now this has been in the works since at least 2018, but’s it’s a major play for Ripple and XRP. Back in 2019 word got out on the XRP forums hat Australia-based Identitii were partnering with Trace Financial to update MT standards ISO 20022 integration. This is a big deal in Fintech and the next global standard for payments messaging. And in the coming years banks will have to migrate from legacy MT financial messaging to this new standard, all taking place on the SWIFT global network. According to identity’s website, how banks manage the transition depends on legacy systems’ ability to maintain data integrity as it moves between formats. And they’re expecting to help over 11 thousand banks make move. Well, guess who’s technology could be at the very heart of this migration? Exactly. Identity have been filing patents since 2018 but just added a new updated version of the US patent just a few weeks ago. And while I’m not going to pretend to understand these insanely **complicated charts, what’s important is the settlement layer the could underpin in it all. Ripple. This is complex, technical stuff but you don’t need to be a genius to see the bigger picture. Namely that Ripple and XRP are being set up as the global settlement layer within the legacy system. We’re talking lightning-fast, frictionless, borderless payments from legacy finance. It’s a big deal. So whether you’re a devoted XRP holder or not, the Ripple lawsuit affects everyone in crypto and we all want them succeed and move forward. Much as I can’t wait to see it come to an end, it’s sure been a hell of a ride. As far as XRP is concerned, it’s a ride that’s just getting started. That’s all I got, Be blessed. Bitboy out. XRP TAKING OVER BANKS
“sensitive data”
bitboy crypto
delphi labs
fist fight
full disclaimer
global standard
legal fight
makes sense
obvious case
rearview mirror
taking place
thinks calling
transition depends
xrp
- Nhận đường liên kết
- X
- Ứng dụng khác
Nhận xét
Đăng nhận xét