Ripple has had an amazing week. Those investors who held on tight while Ripple stagnated for most of the year under the tight vector of the SEC have been proven shrewd investors.
What can the SEC really do?
According to Inc.com:
"The U.S. Securities and Exchange Commission (SEC) is a federal agency responsible for administering federal securities laws that protect investors. The SEC also ensures that securities markets are fair and honest and, if necessary, enforces securities laws through the appropriate sanctions."
The fact is, the SEC can ban Bitcoin. It can even ban Ethereum if it wanted to. It can put locks on all our wallets for crypto in the US, if it wanted to. But it would anger a growing number of people used to the ideas of the blockchain technologies transforming our world.
It would also devastate the US-operating institutions dependent upon blockchain technology and hopeful for these pasture grounds. JP Morgan, Bank of America and Wells Fargo all want to continue to invest in crypto and have their millions of customers begging them for access to crypto. By closing the gate, shutting the space down -- the US takes a major step back.
Meanwhile, every country on earth that opens those same crypto gates will prosper. Please tell me how crypto could harm a country that's fiat currency is flat lining all production capability of millions? Really, tell me how would crypto cause problems to a country completely devastated by immensely greedy hyper-inflationary policies? The answer: It wouldn't! It would SOLVE those problems.
It would bring a "gold standard" back to what CASH and VALUE really mean. Something we can count on staying $1 when we wake up in the morning the next day, and not 10 cents in a few months time.
The exchange of cryptocurrencies IS destabilizing for governments' fiat currencies and cash systems. But it may also bring in some golden geese with it.
Crypto benefits the People at large. It opens doors. And that's what it has been all about. Not definitions of "securities". If the SEC has proven one thing with this pursuit of XRP, it is that the SEC has lost all hope of control.
It has lost its legitimacy as well by pursuing LBRY token LBC. It's gone flat out mad. What does it hope to accomplish by revealing it is in cahoots with Youtube? Or of $MOB, a mobile payments cryptocurrency? What, that you're in cahoots with Verizon? The purpose of regulation is to stimulate economic activity, not tread upon the rights of citizens. It is not to hedge multinational interests against the commoner class.
By showing they arbitrarily choose cryptocurrencies for "regulations" and "investigations", they show that their broad arm of power has failed to live up to its function.
If they had any hope of a case against Ripple, they would target ALL Blockchain technology -- and in so doing, spell out the writing on the wall -- that transparent ledgers truly, effectively spell the end of economic certainty for the status quo. Put plainly, it means a little guy like Neo finally has a chance against the System(a Matrix movie metaphor): he finally has a chance to vote, speak, be heard, transact freely within his right and freedom.
That story has never been in the DNA of such systems. But now it's putting every one of these systems to the test, and so they strive and strive to put a cork on a bottle that's already lying on the ground, broken. The genie's out.
Who wants to try and stop it now?
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