Some thoughts on this laudable petition (a 🧵about managing
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1/ After a good night's sleep, I have a few thoughts on the impending Ripple lawsuit.
Less schadenfreude, more "what now?" https://t.co/a0oTwblBHB
2/ First of all, the USG is going to lose.
I don't even need to read the complaint. They might force a settlement, but they're outclassed on legal.
Remember Ripple engaged former SEC Chair Mary Jo White in a civil matter in 2018. A hint of their
3/ Second, the USG should lose.
The SEC restrictions on non-accredited investors; the ridiculous Howey test; 80 year old securities law like the "40 Act" all need to die in fire. They are un-American and completely outdated.
I hope Ripple wins. (WUT?)
4/ Third, it's incumbent upon industry to self-police and hold the moral high ground.
I give certain individuals A's and others F's, but as a whole, the most powerful people and companies generally take a Swiss neutrality stance on assets.
So we're effectively in this together.
5/ We're "in this together" to draw lines of regulatory demarcation.
XRP as a "security" further hurts the U.S. businesses while global comps will continue to make these markets.
XRP as a security also means other assets will meet the same fate. At least Ripple has $ to fight.
Less schadenfreude, more "what now?" https://t.co/a0oTwblBHB
![](https://pbs.twimg.com/media/Ep2Ng6cWwAclMW4.png)
BREAKING: The @SEC_News intends to sue @ripple over its sale of XRP, alleging the cryptocurrency is an unregistered security according to @bgarlinghouse.@nikhileshde reportshttps://t.co/7Z3KSWk7dn
— CoinDesk (@CoinDesk) December 22, 2020
2/ First of all, the USG is going to lose.
I don't even need to read the complaint. They might force a settlement, but they're outclassed on legal.
Remember Ripple engaged former SEC Chair Mary Jo White in a civil matter in 2018. A hint of their
3/ Second, the USG should lose.
The SEC restrictions on non-accredited investors; the ridiculous Howey test; 80 year old securities law like the "40 Act" all need to die in fire. They are un-American and completely outdated.
I hope Ripple wins. (WUT?)
4/ Third, it's incumbent upon industry to self-police and hold the moral high ground.
I give certain individuals A's and others F's, but as a whole, the most powerful people and companies generally take a Swiss neutrality stance on assets.
So we're effectively in this together.
5/ We're "in this together" to draw lines of regulatory demarcation.
XRP as a "security" further hurts the U.S. businesses while global comps will continue to make these markets.
XRP as a security also means other assets will meet the same fate. At least Ripple has $ to fight.
We are live tweeting from the preliminary hearing of the Employment Tribunal case in which #AllisonBailey is suing Stonewall and Garden Court chambers.
The judge has ruled that for this hearing only, the names should remain redacted.
It is a Rule 50 Order. These particular individuals are members of Stonewall’s Trans Advisory Group and their names may well be known elsewhere. What is relevant is the messages from the group to Garden Court.
The judge states she would not make the same decision at the full hearing. This is only for the preliminary hearing.
Having dealt with the anonymity issue we now move to the main submissions in the case.
The entire first part of the hearing related to messages sent by certain individuals from the Stonewall Trans Advisory Group seeking cooperation with trans allies at Garden Court. So far all the discussion has been about whether their names must remain redacted.
— LGB Alliance (@ALLIANCELGB) February 11, 2021
The judge has ruled that for this hearing only, the names should remain redacted.
It is a Rule 50 Order. These particular individuals are members of Stonewall’s Trans Advisory Group and their names may well be known elsewhere. What is relevant is the messages from the group to Garden Court.
The judge states she would not make the same decision at the full hearing. This is only for the preliminary hearing.
Having dealt with the anonymity issue we now move to the main submissions in the case.