Hoffman, who has decades of experience working with the SEC, has pointed to the fact that the regulator has not lost a Section 5 case in decades, adding that there is very little difference between XRP and LBRY Credits tokens. As, peer-to-peer content distribution network LBRY was defeated by the SEC in November, with the court ruling that the start-up offered LBC tokens as unregistered securities.
Moreover, the Ripple leadership was informed by none other than Bill Hinman, the former director of the SEC's division of corporation finance, that its XRP distributions were viewed as illegalWhile Hoffman agrees that the SEC's handling of Hinman's infamous Ethereum speech from 2018 was"a mess," he is convinced that it has no bearing on the case.
The tech entrepreneur also criticized Ripple for misleading many within the cryptocurrency community about the true state of affairs."It is a shame that so many at Ripple mislead so many on this issue," he wrote. Hoffman argues that "very few" of the top 100 largest cryptocurrencies are not securities in the United States.
The SEC's lawsuit against Ripple was filed roughly two years ago. The popular blockchain company has been accused of offering XRP tokens as unregistered securities.
Hahah sell sheeps sell..
Smells like a whole lot of FUD $XRP
Ripple SECGov hoffmang Good now you can pay me for all the losses.
hoffmang Ripple SECGov By your reasoning doesn't that make housing, artwork, and everything else a person buys with the hopes of appreciation a security?
hoffmang Ripple SECGov Your opinion but not the outcome…ETH is more security than everything else…Remember fact 1: it was rise through and ICO…
Ripple SECGov hoffmang Impossible! If SEC won with such nonesense claims, then the judge was surely blind and incompetent!
Ripple SECGov hoffmang
Ripple SECGov hoffmang when the FUD starts 🔑 not a financial avdise ...
Ripple SECGov hoffmang 🐂📈😂bullish(not financial advice)
Ripple SECGov hoffmang Fuck the fud 🖕😂🖕
Ripple SECGov hoffmang Paid actors jumping in with false accusations
hoffmang Ripple SECGov
Ripple SECGov hoffmang Who the fuck is hoffmang ? He’s own mother doesn’t even know him.. but he can speculate with zero knowledge.
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Source: Reuters - 🏆 2. / 97 Read more »