Ripple/XRP-New Hope-SEC vs Ripple,New US Bill Exempts Crypto From SEC Law,Exchanges Relisting XRP?!


Welcome back to the show everybody we got a great one for you today are exchanges, beginning to re-list xrp. We're, going to take a look at some evidence of that and that's, not all u.s bill to exempt cryptos from securities exchange, commission and securities law.

What do you think about that? One? We're, going to talk about that. Why bitcoin could never be the new financial system believe it or not? It's still true new hope for xrp holders. We're gonna check into that and visa b2b payment and the xrp cross-border solution.

Let's, roll that beautiful intro. Here we go. This is digital perspectives with brad kimes subscribe for new content notifications. Now, here's, brad kinds come on in welcome back to the show everybody you can follow me on twitter, at backup bradley above at the top of the screen and everything that we're talking about here today.

Let's, go ahead and get started this morning. We are at 45 cents. 4514 is where we are. This morning we are ranging between four four one: nine and four seven four one, and that's. Where we're at this morning, let's, go ahead and get into the news.

We got a lot to cover and not a lot of time to do it. Rising institutional interest in digital assets have forced goldman sachs to explore how it can cater to the booming demand. Well, that's, not all because it's, not just goldman sachs.

It's, jp morgan too. I covered this in my other video and we covered it yesterday, but i think it's really worth noting. If not for the veterans in this space, but for the four or five hundred people that are joining this channel every day, if you're, seeing goldman sachs and you're, seeing jp morgans of the world absolutely moving towards crypto or Making predictions about a huge digital currency explosion, as jp morgan has done as well as goldman sachs.

Then you know that there are massive things coming, not financial advice. Let's, go ahead and get going for those of you that don't know. I'm, not going to play the clip, but this is the 30 second clip you can watch on twitter listening to gary gensler move.

One step closer to becoming the next sec chairman now that he's passed a committee. His confirmation moves to the full floor vote from the senate. I would be surprised if that's, not done before the end of the week.

Let's. Keep going here here is another bill being introduced to exempt crypto from securities laws. This bill was previously introduced before it's, known as the token taxonomy act. Let's. Just look at this really quickly.

From representative warren davidson and others reintroduce the token taxonomy act, a bill that would make certain cryptocurrency tokens and other digital assets exempt from securities laws. This represents the third attempt by the ohio congressman to get the house of representatives to take up the issue he introduced.

It late in 2018 at the end of a legislative session before reintroducing it with minor tweaks in 2019. The legislation has never been scheduled for a vote in the house. However, he says here the h.r 1628 would amend the securities act of 1933 and the securities exchange act of 1934 to exclude digital tokens from the definition of a security.

It would also make crypto to crypto transfers tax exempt and change. The tax structure for cryptocurrencies, held in individual retirement accounts that let's, see what happens. To that i mean i would love to see that move forward and get some real motion on the floor and really get a full vote to see if it could pass, but we're going to keep an eye on it.

Obviously it has gone before congress before and not gotten the forward motion. We will keep an eye on that and shout out to warren davidson and all the other sponsors of that bill. All right. So here is some information here from gary gensler breaking down to you, as digital asset investor says.

This is why the powers that be were never going to build the financial system around any proof of work, tech, bitcoin included, says bitcoin was never the one at best. It was a prototype that will be allowed to be a store of value.

I completely agree with that statement and i think that you know uh if enough, people out here say that it's nighttime and it's actually daytime. It won't matter that it's daytime, and i believe that's, a lot of what we're, seeing with bitcoin, even though i do believe it will be around for a long term.

I do believe that regulation as it comes out as it may possibly affect ethereum and other digital assets and xrp, i believe also proof of work - will have something to uh to to deal with in front of it.

If the coin is based on, proof of work like bitcoin is listen to hear what he, what uh, what uh gary gensler says here that's, correct that's correct! So what joe quinn's saying is in bitcoin what protects against? That is partly the proof of work and partly that it takes 10 000 or at least 51 of them, probably to rewrite the last two days.

The economic incentives in bitcoin is is why waste all your computer power and electricity and so forth doing that when you may as well just go forward, i think bitcoin could be susceptible to state actors.

I think you know if north korea wanted, or russia wanted to spend - probably single digit billions, but at most maybe 10 billion they could overwhelm the whole system and and bring they could do a 51 attack by buying up enough uh mining equipment.

The a6 and just big footing the whole system, but it's, multiple billion, and there's act there's academic papers. On this now single digit billions, a state actor. Could an individual wouldn't want to do it because you'd, crush 110 billion dollars market cap down to so so, keep in mind now we're well over a trillion dollar market cap for bitcoin and what he's; talking about is being able to use 10 billion or less to be able to move and crush the market for bitcoin from a big actor that wanted to do something harmful to the to the actual market of bitcoin.

That is in itself. Enough reason to understand that whatever bitcoin's, role is in this digital asset space and its original role is introducing the tech to the world to begin with. So that's. Why? I do feel like the statement at best it's.

A prototype that will be allowed to be a store of value really makes the most sense to me, because if you start looking at the different tokens and what they can do out here, there are plenty of other tokens on the market.

Xrp included that can outdo the transaction time the settlement right, i mean you know all of it: the efficiency, the the cost for for transactions all of it right, the interoperability uh. You know there's, so many other things.

You know like xrp that are out here and once you get enough adoption when we move to that next watermark for the space right, we're, going to realize where we & # 39. Re going here, what do we want? Clarity, for we want clarity, so we can get.

You know. Uh use case utility built into the price which we currently don't have broadly right, so we want to really make sure that the retail investor side of this market is not the bigger side of this market.

We want to see adoption and use case utility put to work that drives the price of this asset, and you can't do that without the clarity for the sophisticated financial institutions to be able to use it.

Here we go right here: xrp crypto, wolf, says: xrp ledger gives gatehub the freedom to build out new tools that better serve their customers by building a network of regulated gateways using the xrp ledger.

It will soon be possible for customers to draw upon any assets or values. How about that one by building a network of regulated gateways using the xrp ledger, it will soon be possible for customers to draw upon any assets or values.

Don't sleep on it that's. What the goal is that's? What the goal is here is a great video again from maternity attorney, jeremy hogan from legal briefs and again a major shout out to him and a big thank you to him for him willing to share and graciously share his insights to all of us at how He sees what's going on in crypto, and the sec ripple lawsuit very, very grateful for your insights jeremy.

Let's! Listen here at this mark and listen through the clip that he has and then we'll pick it up in a different spot here. So when ripple sold xrp back in 2014, for example, if the buyers bought xrp and were primarily relying on ripple to increase the value of the xrp, then it was likely a security, but in the cryptocurrency world generally and with ripple specifically, the analysis changes quickly.

As the use cases for the assets are actually built out so that the xrp that ripple sold in 2014 might have been the sale of a security, but the xrp ripple sold in 2018 might not have been the sale of a security.

It depends on whether ripple was the driver of xrp value at the time of the sale, and this is the key for what i'm about to tell you in the second half of this video, but listen don't. Take it from me here is the sec commissioner pierce saying the same thing in a much more intelligent way when we tend to ask the sec to talk about the token itself as being a security and that's really a shorthand, because what what The question really is: is um so like a stock or a bond? Is a security, but a securities offering can be.

It can include an investment contract which is what howie's all about and and so it's. Not that the thing itself, how the howie case, for example, was about orange groves. It's, not that the orange groves themselves or the orange trees or the oranges were a security.

What we were saying is the way that you sold those pieces of the orange grove. It was a securities offering because it was an investment of money. You were looking for profits based solely on the efforts of someone else that's.

What a securities offering is all about that's from a recent interview on the thinking, crypto channel link so get what she's, saying there. She's laying down. Basically, what became the uh legal precedent for the howie test is what she's talking about now.

Let me move here because he's, going to give you a rundown here at let's roll it right here and he's, going to talk about summary judgment and basically how there may be a what he calls A new hope right that we could see a summary judgment that allows us and ripple to go back to work using xrp, investing buying selling and all of this and have other elements of the case continue to move forward.

But get a summary judgment on the part of the case that would allow them to go back to having sales and all of us to go back to having sales which is going to lead to the question you know. Of that i asked in the opener are exchanges relisting xrp, and we're, going to see evidence of that in just a second.

Listen to this. For the part of each claim or defense, on which summary judgment is sought, close quote, and when can they file? It quote. A party may file a motion for summary judgment at any time until 30 days, after the close of all discovery, close quote, which for the ripple case means they can file it anytime.

They want from now up until sometime in september. After discovery is closed, i mean they can file it tomorrow if they want so my spidey sense is tingling and it won't happen for a while still, but ripple is going to file for partial summary judgment as to the current and future offerings Of xrp - and why is that so important for you, because the strength of ripple's case is exponentially greater in summer 2021 than it was back in say, 2014 or 2015, and by moving for partial summary judgment on its third affirmative defense and winning You all get the clarity you're, looking for moving forward boom and the rest of the case.

Well, it gets determined at some point later afterwards, but that part of the case is about money, about disgorgement of profits from the sales, but the main event whether ripple can continue its business is determined with finality, and i don't have time in This video and i'll, leave it to others, like attorney john deaton, to make argument about ripple's, current use cases, the current uses of xrp, how decentralized it all is now, but recently attorney deaton asked for how you are using Xrp yourself, he asked about it on twitter and look at the responses.

So, as you can see there's, some things people are doing with xrp right now, even as we speak that i don't even understand what they're doing with it, but it's completely separate Than what ripple is doing with xrp now, how long would this list have been back in 2014 and if you still don & # 39, t believe that eight years is a game changer in the sec crypto regulatory world? Let's.

Listen to the new sec commissioner. Explain how big a deal four years is with ethereum much less eight years, or i think ether when it was done in 2014, would pass this test when i say pass, it means it's, a security.

Now, subsequently the sec has said by 2018. It's decentralized enough and they've sort of said. You know we'll, let it go the other way. So, as you can see, designations, definitely change, and in the crypto world it is a change towards non-security status.

There you go and that's really the point and again thank you to attorney jeremy hogan for sharing his insights and perspectives, none of which is financial advice right, so uh the the point being that he's.

Getting to here is they could settle on the matter that lets us and ripple go back to work using xrp and the sales and continue the rest of the points of the case to go on and settle whenever they need to, and that would be absolutely huge For us, one thing's, for sure, is.

I think we're, seeing signs that people are recognizing that the sec case is not as strong as they think it is uh. You know this is from like exchange and shout out to xrp gorilla moon baby, shout out to you uh for sharing this dear value, customer user.

We hope this email finds you well. We would like to inform you that upon reassessment, xrp trading and deposits have been re-enabled. If you have any questions, you can contact support, and then i thought well.

Is this really real because there's, an exchange out of switzerland, and then you come down here and people are asking hey? Is this confirmed actually kevin cage shout out to you? My friend? Is this confirmed and like exchange, actually responded and says 100? All pairs have been re-enabled how about that and how about the notion that we could see that start to happen, based on the fact that everyone's, starting to find out that the sec's case is pretty flimsy and not to Mention if you just come back to the point that attorney jeremy hogan is making is that we could see a summary judgment that absolutely opens the floodgate for that to happen, because it could just be a decision that's made as a part of The case, and if that happens, you're, absolutely going to see a mad rush of people, relisting xrp - that is exciting.

Okay, keeping this going here, we have some news about visa ripple partner. Bd b2b connect is an innovative multilateral payment offering financial institutions with an alternative, cross-border solution.

Who is solving this problem for several years? Mr yo-yo asks yeah. Well, i'll. Tell you who it's just right here. Remember this visa earthport, mastercard. Uk competition watchdog clears visa acquisition of ripple partner earthport.

This is from a couple years ago. I believe it was but let's. Take a look at visa really quickly here and visa is just laying out what they got here, powering the future of global business payments, and then it rolls through streamlined, cross-border payments.

Look at this layout right here: company a bank, a visa b to b connect bank b company b there. It is nice and streamlined global payments through single connection. It shows here the uh legacy bilateral network, and then it shows here the visa b2b connect multilateral network.

Look at this: does it look like anything you've seen before yeah and then it gives the rest of the breakdown in the cross-border experience. But here's. What you need to know, because from two years ago we understand if you & # 39, ve not been in the space, and you need to know this right.

Uk competition watchdog clears visa acquisition of ripple partner earthport, which means that visa is using earthport back-end to introduce this new payment option and streamline cross-border payments and b2b system that they're introducing right now and that's going to do It for us, if you need to see any more, i tell you i don't know what else anyone could show us to give us the signals from goldman sachs to jp morgan to the mastercards to visa earthport connection to dtcc.

If you haven & # 39, t watched the video from earlier this morning, make sure you go watch that and the connection yoshitaka katau is now retweeting. The connection between dtc dlt, r3, corda and don't.

Forget the corda settler offers the digital asset xrp for option to settlement. Make sure you check that video out as well that's going to do it for me, make sure you hit the like and subscribe leave a comment below share with somebody.

You know and hit that notification bell, so you don't miss a thing, make sure you uh check out all the links in the description box and the comment section. There are really great products and services that i use each and every day and then, more importantly, they are trusted vetted links.

I'll catch. All of you on the next one. You