Rispondi a: CRYPTO NOTIZIE
Home › Forum › CRYPTO NOTIZIE › Rispondi a: CRYPTO NOTIZIE
PrivacyPrivacy
SEC Claims XRP Holders Want to Cash Out Their Tokens at Profit
Facebook
Twitter
Telegram
Copy URL
Sun, 03/28/2021 – 11:10
article image
Alex Dovbnya
The SEC says XRP holders want to intervene in the Ripple lawsuit to “reinstate speculative trading”
SEC Claims XRP Holders Want to Cash Out Their Tokens at Profit
Cover image via U.Today
Read U.TODAY on
Google News
Contents
Speculative trading
Ripple doesn’t object to the intervention
In his March 26 letter to Federal Judge Analisa Torres, Jorge Tenreiro, a senior trial attorney at the U.S. Securities and Exchange Commission, urges the court to prevent XRP holders from intervening in the Ripple case.
Allowing their intervention would result in “confusion” and “unmanageable complexity.” According to the SEC, XRP investor Vladi Zakinov, who filed a class-action lawsuit against Ripple in June 2018, would also need a seat at the table together with other holders who allege that the company was selling the token as an unregistered security:
Moreover, if the Court permitted Movants to intervene, all other XRP holders, including a large class of XRP investors who has already sued Defendant Ripple Labs, Inc. (“Ripple”) for unregistered offers and sales of XRP securities, would likely seek to intervene, too.
Speculative trading
Tenreiro claims that John Deaton, who filed is his pre-motion letter last week on behalf of 10,000 XRP holders, is primarily motivated by potentially selling tokens to other investors at a profit:
Movants primary motivation appears to be to reinstate speculative trading of XRP on digital asset platforms so that Movant may sell XRP to other investors at a profit.
The SEC cites an FXStreet article, which mentions Deaton’s prediction about XRP potentially doubling its price if cryptocurrency exchanges reinstate trading.
Deaton claims that he’s not a disgruntled XRP investor who lost money on the token in a January tweet.
If you don’t consider the suppression in price, due to the SEC filing, I’ve never even claimed to have lost money on XRP.
Related
XRP Presents “Huge” Risk to Exchanges, Says Kraken CEO
Ripple doesn’t object to the intervention
In its own response to the SEC’s letter, Ripple took a neutral stance on the issue without objecting to the upcoming motion to intervene:
The blockchain company, however, says that the securities watchdog has to clarity whether or not its suit will affect the secondary XRP market:
The SEC now has a chance in the face of the putative Intervenors’ Letter to confirm that its suit is not intended to affect the secondary retail market for XRP in the United States. Despite some broad language in the amended complaint, the SEC has at times suggested that its theory of liability is indeed more limited, such that secondary-market sales and other transactions in XRP would not be subject to the federal securities laws.
article image
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.
article image
News
03/22/2021 – 12:52
MicroStrategy CEO Hopes His Messages to Musk Drove Tesla to Acquire Bitcoin
Yuri Molchan
article image
News
03/23/2021 – 13:55
Top Stories of the Week: Cardano Listing on Coinbase, New Bitcoin ETF and More in One Video
Yuri Molchan
article image
News
03/24/2021 – 14:40
BIS Chief Says Cryptocurrencies Don’t Pose Challenge to Fiat Money
Alex Dovbnya
Like
utoday.en
Follow
@utoday_en
Watch
utoday
Join
@utoday_en
Subscribe to email
Follow us and get all crypto news 24/7
Subscribe to daily newsletter
Email
By pressing the “Subscribe button” you agree with our Privacy Policy
News
Stories
Price Analysis
Guides
PR
About
Disclaimer: Any financial and market information given on U.Today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.
Protected by copyright laws of the United States and international treaties. This website may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the World Wide Web), in whole or in part, is strictly prohibited without the express written permission of Akselerator, LLC
© 2020 U.Today. All rights reserved. Contact us: 276 Fifth Ave New York, NY 10001, United States
Terms and conditions
Privacy Policy