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John E Deaton Shared: The SEC informs the Judge that the SEC does not typically decide whether a particular instrument is a security per se, but, at the same time, it argues that because Ripple created a secondary market for XRP – all XRP in the secondary market are securities. It’s schizophrenic.
Community Response: Why doesn’t the judge call them on their foolishness and what happened to them for not giving up the documents the judge ordered? Is that just being overlooked.
Why does it feel like the Judge will be in favour of the SEC John E Deaton? I am getting this funny feeling buddy?
First, let me say, I support you whole heartedly and am very grateful for all your hard work in the XRP community. Now, all that withstanding, comparing this corrupt behaviour to schizophrenia, is not only wrong, but inaccurate. I think you mean split personality. Big difference.
A lot of people confuse borderline personality disorder and schizophrenia, with the former seeming more in line with the point you are attempting to convey. We don’t need to potentially alienate people struggling with mental health to prove a point about corruption.
You are talking about individuals, but the SEC is not an individual so cannot have Shizophrenia or borderline. All actions of SEC are planned. No mistake. There is no personal disorder of some sort. They have an agenda One they discuss and vote for.
The judge has taken more time on this case. I know this case will determine the future of the crypto market, but she should have, at the least, made a ruling on whether or not the Fair Notice Defense stands! She’s done nothing, but grant extensions, in months!
Nice, it seems to me the Judge is allowing the SEC to unravel their case themselves, dotting the i’s, crossing the t’s and at the same time giving them no chance of appeal.
SEC – we can’t answer in a vacuum because you will not be able to hear the answer. JUDGE – Fair point. SEC – let us turn the vacuum off… XRP is a security. Judge how about Bitcoin Ð. SEC let us turn the vacuum on first.
Man, Goldman Sachs must be REALLY desperate instructing their employees at the SEC to make these type of claims. Bullish.
When will we be done on expert witnesses, etc and when could we possibly hear something about the fair notice defense? Would like to see some kind of timeline of what is coming up / what to expect in January.
Expert discovery is currently scheduled to close on January 19. Anyone’s guess on fair notice; 30-60 days.
Basing off what Hogan and Deaton have said this month. Hogan: Torres will likely rule on the subst. motions (Including motion to strike Fair Notice Defence) after discovery. Deaton: Thinks there will be a ruling on DPP (possibly this week) and that’ll be the catalyst for settlement.
That actually kind of makes sense; but it also tells me that under their test $XRP is not a security and they shouldn’t have sued them to begin with.
I’m no attorney or judge, but doesn’t this kind of shoot the SEC in its own foot for this whole case? Especially the Fair Notice defense?
So let me get this straight. SEC is suing for sale of an unregistered security, that they don’t say is a security. So, who else is saying it’s a security if not themselves? Nobody? Case dismissed with prejudice!
Can’t dismiss case without clarity of XRP bring a non-security. With prejudice just means Ripple can’t be attacked, but, the SEC will attack exchanges instead.
Sec is wasting time of everyone as they know that they have done wrong to sue. They can’t move backwards as scared to get fired and can’t provide proof to declare security.
Looks like the SEC can’t go back or forward. Best description i can think is check mate. As far as fair notice goes, expert discovery will be part of that decision hence why no decision to date. The worry now is they drop the case providing zero clarity.
I wonder what Jamie Dimon would like to have happen. Either way it goes China will blow away the USA in financial services. The level of the playing field has to do with holding US innovation back and monopolizing ETH. I want to level some people too!
Well, this is definitely annoying. They do realize this case can’t go on forever. At this point the SEC is just grasping at straws and slinging shit in whichever direction they can. Either way there’s no stopping this train.
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