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/biz/ - Business & Finance

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25297201 No.25297201 [Reply] [Original]

more bad news for Cripple. SEC will now be able to go back 10 years for clawbacks. Previously the limit was 5 years. Brad G is going to have to give up all his ill-gotten gains going all the way back to 2012. Guy is going to be penniless by the time the whole XRP scam is unwound

>> No.25297410

>>25297201
>Previously the limit was 5 years.
That’s not what the 5 years people are talking about is about. The SEC said crypto had 5 years to shift from being identified as a security to a currency.
That being said the Howey test is from 1946 and it WILL be updated.

>> No.25297616
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25297616

>>25297410
the SEC will be able to recover gains from fraud for violations going back 10 years. Ripple started 8 years ago, and have been selling illegal securities the entire time. All of the gains from their fraud will be subject to disgorgement under the new law

>> No.25297648

>>25297616
Learn to read idiot. Reread my post, take your time.

>> No.25297855

>>25297616
>illegal securities the entire time.
except its crypto and there were no guidlines.. this is an emerging asset CLASS. they still have to figure out how to classify crypto. i dont like ripple but its not gonna happen like that.

>> No.25297932
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25297932

>>25297855
SEC says that Ripple's XRP sales were and still are an illegal securities offering. This new law will allow the SEC to go all the way back to the first violation to recover their ill-gotten gains. Hopefully the money goes to the victims of the Ripple scam

>> No.25297958

>>25297201
XRP is missing the first 30,000 blocks of its ledger lmao
There is no way for anyone to know what happened for several weeks after its genesis

>> No.25298006
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25298006

>>25297616
that means anyone that made a profit trading XRP will have to give back all the money or face jail time

>> No.25298018
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25298018

>>25297855
>except its crypto
Nice try, Bucko. It's an unregistered security and the token is worthless.

>> No.25298032
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25298032

>>25297932
So.. so the Flare snapshot will serve as proof and we will all be rich then? Is it really habbening?

>> No.25298061

>>25298006
i would guess it only applies to people who bought XRP shitcoins directly from Ripple, not on secondary markets