Jeremy Hogan from LegalBriefs put out a serious of tweets this morning which has opened the eyes to all XRP holders. Back in 2016, the SEC recognized RippleLabs as a digital currency company, and somehow 4 years later is now labeling XRP a security. The big question the SEC will have to answer is how did XRP transform from a digital currency to a digital security. This piece of information will be reviewed today, during the 2pm conference call between Ripple and the SEC.
(2/2) Apparently the SEC agreed with FinCen – at least back in 2016! The SEC must now explain to the Court how a "digital currency" transformed to a "digital security." That explanation is part of the batch of documents the parties will be fighting over today.
PS. Happy Tuesday!
— Jeremy Hogan (@attorneyjeremy) April 6, 2021