Ripple/XRP-$226M XRP,LBRY/Judge & SEC Admit Secondary Sales Are NOT Securities, US Congress Update


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Welcome back to the show everybody check It out we've got Ron Hammond what's Going on in Congress 250 million xrp and Guess what else we've got judge says Secondary market sales for crypto are Not Securities somebody wrote a Beautiful intro Digital perspectives with Brad kimes Come on in Welcome back to the show everybody you Can follow us on Tick Tock YouTube and Twitter for exclusive content right now 1.8 trillion dollar market cap for Cryptocurrency we're off by 1.8 Bitcoin 23 100 plus ethereum 1500 plus Just under 1600 tether market cap 67.8 billion right now xrp is 40 cents In holding actually it's off by 3.1 Percent in the 24 hour ladies and Gentlemen if you haven't done it join us In Las Vegas for the X xrp Army event of A lifetime and I promise you that's Exactly what it's going to be this is Not just a meet up this is a conference This is going to be similar to a annual Event like you would imagine the Bitcoin Miami Conference we are going to turn This into an annual event experience to Show you the adoption and growth of What's going on with the xrp Ledger in Everything associated with it if you Want a VIP ticket the only way to get One is to join the digital perspectives Mastermind group but let me tell you

What else you get very quickly here you Get on-demand classes private lessons Weekly live streams full access to a Private telegram group you get the Learning curve you've been looking for I Know you're busy get some of your time Back we got a real secret weapon in this Group and it is the group itself that's What makes it a mastermind group level Up get what you need and I tell you what Make the investment in yourself you will Not be sorry that you did it Take a look right here met a Lawman Tells us one week from today February 6. a key hearing will take Place in the FTX case the court will Hear the U.S trustee's motion for Appointment of an independent examiner If the motion fails we may never get an Unbiased account of the demise of FTX He lays out the rest of the information I want to shout out to James Murphy he Is amazing we've had him here on the Show and he is keeping all of us up to Date what is happening here It is clear to me As I believe and I don't want to speak For uh matter law man here but I believe It is clear to him too he's watching it So closely someone is working very hard To get SPF out of the spot that he's in And then there's this Sam backman Freed's 250 million dollar Bail guarantors to be made public oh

We're going to find out We're about to find out Who's got so much invested in Sandbankment free stay tuned for details Ripple sold 226 million dollars worth of Xrp and Q4 here are other key insights Now there is the Q4 report I'm going to Cover that because I'm going to get into That and so much other information we Got a lot to go over today but the main Thing we're getting ready to get into is The library case hearing that went on Yesterday and the powerful remarks that The judge made about secondary sales Ladies and gentlemen we're going to hear From the field General John Deaton who Represents 76 000 xrp holders but you Know what else He represents the entire crypto industry You want to know what a leader looks Like you're about to find out London-based Arc acts exchange launches FCA regulated crypto custody service More advancement around the world ladies And gentlemen the world is not waiting And then Ron Hammond gives us the update On Congress you may like it you may not But nevertheless I don't think anybody Gives it any more straight than Ron Hammond does we appreciate him this week In Congress and crypto as the new Congress continues to form and map out Their policy agendas for the next two Years

One major theme for the house this year Is China Like the U.S China has complicated Relationship with China Here's what we see in D.C and it says Here this emphasis on China is not new In DC but House Republicans are making It top priority for this Congress in Addition to creating new bipartisan Committee focused on combating China it Seems nearly every other committee will Have some focus on China in the early Days of 2023. What about China specifically Well that's when it gets broad there's An old joke in DC that everything is a National security issue and that is sort Of the true with China it says have a Policy issue find a way to link the link It to combat China defense economic Competitiveness Healthcare Etc This China theme seems to be the crooks Of the House Republicans policy uh Positions and many of the house Dems Agree in nearly every meeting so far in 2023 China has come up in one way or Another it is obvious this trend will Continue for the next two years and Dominate Congressional hearings to come However the crypto specifically there is A lot of content on how China regulated Crypto and what lessons the U.S can Learn as the U.S has lagged behind on Legislative action China has been

Aggressive on crypto with various bans On mining and payments privacy of Citizens will be an important theme Keeping business in the U.S will Constant will be a constant talking Point Transparency of foreign actors firms Will be discussed frequently analogies Of current U.S government actions to China policies will be drawn constantly As a CR as crypto rebuilds in the bear Market it is key to remember that this Looming threat of China will be in the Back of the mind of House Republicans And for the Biden Administration as well If you're discussing crypto with policy Makers in 23 be ready to discuss China In the near term expect several hearings Involving China in 23 in a variety of Committees the good thing for crypto the Industry has a lot of experience dealing With China the multiple bans imposed and The results of their poor policies this Is a unique cautionary Tale on the other Hand trying to tie China to every action In crypto isn't helpful for example the White House statement on January 27th Was not a positive development for the Industry but it's a stretch to say this This is just like China crypto policy Isn't one in sound bites Always grateful for Ron Hammond's Insights and we have a lot in front of Us

Well let's talk about getting closer to The ground here ladies and gentlemen Eleanor tarrett tells us here Takeaways the SEC lawyers In the library case conceded that Secondary market sales of Library tokens Do not constitute a security No one fights harder for the crypto Community than John Deaton ladies and Gentlemen imagine how easy the SEC would Have it would have it if it weren't for Him you cannot say it any better than Eleanor Tara said it right there Bill Morgan adds to all of this news Here and to the the post that was here Just sat through the court Case it was awesome to see it front row John Deaton did a phenomenal job judging The judge admitted it is not this it is Not the security but would not go as far As to put it into his final ruling due To the SEC not asking for the ruling on That but SEC openly admitted it as well Bill Morgan legal analyst in the space Shout out to Bill thanks for the update You say it won't be a part of the ruling But great if judge said in court the Token isn't the security and it is in The transcript that will become public I Have used comments by judges and Transcripts in one case in support of Arguments in other cases well now let's Hear from the one and only right here And I at this point look this guy is

Leading the crypto space Not Just 76 000 Xrp holders don't believe it it's still True listen to what he says in these Clips here and so the clarity is not as As it is as it was or should have been He goes not enough to survive you know To win on Fair notice but it's not lost On me so looks like a fine like that and Then discouragement there's going to be Some kind of discovery of whether or not There is a net profit and not a net Profit it appears there isn't a net Profit then there would be no Discouragement if there is there could Be a little and the injunction he said That he's not inclined to do that then He looked at me and said Amicus He goes I'm going to make it clear that My order does not apply to secondary Market sales he goes so that should Satisfy you right and I stood up and I Said great I go if you would consider Some language about how the token itself Is not a security and and he smiled and Said well I'm a minimalist uh and so he Left it open there but when you think About it if he's saying that secondary Market cells aren't a play then the Token itself can't be a security if the Token itself is a security then that Means whenever it's sold it would be Insecurity and so we don't know and Here's the end result The devil's in the details when we see

His decision we'll know how successful This has been or not successful But you know what You're going to hear a clip in a second Let me play this clip I mean there's two Other Clips here and they're short but You need to hear them because it is the Highlights of what we talked about last Night let's take a listen very quickly Here Um you can't take it personal it's Unfortunate situation and so that's sort Of where uh it all ended Um listen what's it mean for crypto I Can tell you this this hearing today If you think we're getting regulations From Congress Soon then the syrians are relevant right Because Congress will give us our Clarity if we're not going to get any Clarity from Congress there's not going To be some legislation that says Something that defines a security or not A security if the cftc has it or whoever If we're not going to get that for a Couple years then this hearing was Extremely important in every Hearing in Crypto would be important because that's The only Clarity we will get so if we Get it in writing like the judge said Today that this decision is only about When the library sold to a specific Person on a specific day the token's not A security and secondary market sales

Are not in play because there are people Using this technology that is a huge Victory because It the way it was today before the Hearing it's vague we could argue it Either way and the SEC is certainly Going to argue imagine what ginsler is Going to say and now if we get the Opposite that takes that uh uncertainty Uh out of the equation and we know that Secondary Market cells are not in play From the that kind of decision so that's What it means uh in the Ripple case if The decision is something where the Ripple lawyers think that the judge Should know they'll bring it to her Attention even though she's in the Review process remember the library Decision was cited 20 plus times in the Sec's reply brief to Ripple Right because it was a good ruling for The SEC so if there's a good ruling that Comes down that says secondary Market Sells you know are not in play and you Can't do that Um that's something that might be able To be used or cited to the judge Such an incredible point you know the SEC has put a lot of stock in the Library case in the in the SEC versus Ripple case citing them 20 plus times That is an important point but listen to This because you know what There's very real people harmed in this

For the gain of the space in the Industry Hopefully because we still have to have The ruling from the judge but the judge Is a mission in that transcript is Absolutely enormous but we also have to Have that ruling but then there's also Very real collateral damage in all of This take a listen Thanks everybody for tuning in Um Today's a good day in the sense that it Could have been worse right the judge Could have said hey Deaton you're not a Party Naomi Brockwell is not a party you Got your papers in you got your brief in We don't need to listen to you talk and The judge would have been within his Discretion but the judge literally said That he's been thinking about secondary Market sales and he's been thinking About this issue the token itself for a Long time and when we got the amicus Briefs that made him think about it even More and he wanted me to to hear it out And and so we did the best we could you Take your victories when you can get Them and then nowadays when we can get Any victory in crypto when we have a war Against crypto you take it and um you Know I I wish Jeremy Kaufman and Library The best they were Valiant Fighters and I should say that when that transcript Is released you saw a little bit of it

Tonight listen when it's released as you Go to every one of the Senators and Congressmen on the banking committees And the financial services committee Because it is powerful it is an American Entrepreneur standing up and saying okay We lost I'll accept it but tell me how I Can now do this and comply and the Answer is We don't give guidance and so everybody Have a good night What a Sad commentary it is to say that That is the state of the current market For cryptocurrency and entrepreneurs and Businesses investing their life and Their time and money and energy and Effort into a space of innovation for The fourth Industrial Revolution only to Be completely wrecked at the end of the Day without any path clear path to Understand how to do it the right way What a Sad commentary that is Gary Gensler That's going to do it for me not Financial advice for me or anyone else

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