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Crypto Justice Coalition
40 posts
Crypto Justice Coalition
@cryptojusticeco
Fight the SEC's $500B Regulatory Taking of XRP!
$8-$10/token - Damages + Interest!
President Trump's America First EO's back us!
#XRPJustice #TrumpLawfare
Gosh! Did you know that the federal government had already sued and settled with @Ripple on May 5, 2015, declaring XRP a "virtual currency"?!?!?!?
- 1/10 Professor Joseph A. Grundfest’s letter to the @SECGov Commissioners, dated December 17, 2020 - 5 days prior to the lawsuit, raises several critical themes and issues regarding the contemplated enforcement action against Ripple Labs concerning transactions in XRP.
- Replying to @cryptojusticeco10/10 All industry participants, including the @SECGov, knew in advance that the action was going to materially harm innocent third party XRP holders, and raise significant issues around national security and constitutional rights of due process, equal treatment under the law
- Replying to @cryptojusticeco2/10 Prospective Damages to XRP Holders Impact of Enforcement Action: Grundfest warns that merely initiating the enforcement proceeding, even without allegations of fraud, misrepresentation, or omission, would cause significant harm to innocent XRP holders. He notes that
- Replying to @cryptojusticeco4/10 National Security Issues Concerns Over Foreign Dominance: Grundfest highlights national security implications, referencing correspondence from the U.S. Senate to the Director of National Intelligence and the National Security Advisor about Chinese control over Bitcoin
- The @cryptojusticeco is an unincorporated, private membership association, organized to advocate, educate, and provide support to its members on issues related to cryptocurrency and digital asset law, policy, and justice through, among other activities, independent oversight of
- Replying to @cryptojusticeco3/10 Scale of Losses/Damages: In his letter, Grundfest emphasizes the scale of potential damage, citing XRP’s aggregate market capitalization of approximately $23.8 billion as of December 16, 2020, making it the third-largest cryptocurrency globally. A withdrawal of
- 1/7 It’s Friday again! 🙏 Friday provides another opportunity for @cryptojusticeco to review how misguided the @SECGov's "regulation by enforcement" has been with respect to digital assets – notably XRP. Did you know that on June 17, 2020, SIX MONTHS PRIOR to the SEC filing
- Replying to @cryptojusticeco
- Replying to @cryptojusticeco6/10 Unequal Treatment Under the Law Among XRP and Other Cryptocurrencies Disparity with Ether: Grundfest argues that the contemplated action raises "securities law equivalent of ‘equal protection’ concerns." He points out that the SEC staff has not articulated a material
- Replying to @cryptojusticeco5/10 Inter-Agency Coordination: Grundfest notes in his letter that the Director of National Intelligence reportedly offered the SEC Chairman a briefing on the national security threat posed by the dominance of Bitcoin and Ether without effective U.S.-based competition. This
- Replying to @cryptojusticeco8/10 Additional Notable Themes: A. Procedural and Timing Concerns: Grundfest strongly advocates deferring the enforcement decision to a new SEC Chair and Administration, citing the impending leadership transitions and the lack of a pressing need for immediate action. He
- Replying to @cryptojusticeco7/10 Competitive Imbalance: He warns that imposing securities law obligations on XRP but not Ether creates a competitive imbalance that cannot be justified by fair enforcement principles. If Ether trades freely, XRP should as well; otherwise, both should face equivalent
