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Hello this is mattt on the moon Lambo Channel I have two stories to share with You in this very latest Moon Lambo Hot ja starting with this one from the Block sec's Gerber grul criticizes Crypto industry's non-compliance Creative attempts to avoid rules now on This particular topic uh I also have the Pleasure of sharing with you Ripple's Top attorneys response to this because He just shreds uh the uh the director From the SEC on this because and this This part won't surprise you at the Least what this director at the SEC is Is stating is a a denial of reality he's Living in absolute fantasy land now that Won't surprise you but I'm going to Highlight it and we're going to smash it To Pieces because it's a bunch of crap That's for damn sure uh then there's Also this headline from DC journal the SEC came to destroy crypto not to Regulated it now this one will be a Pleasure to run through with you it is Written by Roslin Leighton and she was Covering the uh the secv Ripple case Basically from the beginning like right Out the gate and she was writing for Forbes on this topic for years and I Shared every single one of her articles With you but a few articles ago um at Some point I guess it was last calendar I want to say it was at some point maybe It's the first half of 2023 I can't
Remember exactly but um she had for the Second time one of her articles um which Was published on the Forbes website it Was removed now I don't know what Happened there was clearly some sort of Falling out as a result of what she Wrote uh within that article and she was Just railing on Kim Jan ginzer like that That and deservedly so of course but her Article was taken down from Forbes with No Explanation and then she stopped writing For Forbes something went down and and Since then she's been writing for DC Journal putting out the same quality Content that we've come to expect though So I'll be running through that as well But before going further I do want to be Clear I do not have a financial Background of any kind I am not offering Financial advice and you definitely Should not buy or sell anything because Of anything I say or right I'm just an Enthusiast who enjoys making YouTube Videos about crypto related topics but Just as a hobby and just for fun all Right into this first piece the Securities and Exchange commission's top Enforcer Gerber gruul condemned the Crypto industry over its significant Non-compliance and that's in a quote in Quotes and addressed criticism lodged at The agency over the years GRL the Director of the agency's division of
Enforcement laid into the crypto Industry on Wednesday morning uh Wednesday morning for about 15 minutes During a two-day SEC speaks event that's The name of the event SEC speaks uh Sponsored by the practicing law Institute and here's a quote from Enforcement agent gruul over this past Decade we have confronted significant Non-compliance in many many creative Attempts by market participants to avoid Our jurisdiction with some claiming that We're we're making it up as we go that We are regulating by enforcement and Others arguing that we are somehow Recklessly exceeding our authorities end Quote and then he noted that his views Don't necessarily reflect the agencies Now I'm glad he acknowledged that that's How people have been responding to those Ass hat Pricks at the SEC that's Fantastic that part I'll go ahead and Give a a thumbs up to uh but I got to Ask you if the SEC is actually doing Everything right and everyone else in The space is being unreasonable just Tell me how is this the case that for The first time in humanity you have Every participant in an entire industry With rare exception insisting that the SEC is actually regulating by Enforcement and and that there is not Sufficient Clarity on uh on what the Rules of the road are how is it that
Almost 100% of participants in an entire Industry feel exactly the same way and Believe that why don't we have that type Of of uh perspective in other markets That the SEC has legitimate jurisdiction Over because the well to be clear the SEC doesn't have legitimate jurisdiction Over uh cryptos broadly speaking because Obviously individual cryptocurrencies Aren't Securities but compared to any Sort of sector where the SEC does have Legitimate Authority why don't we see that there How how are so many people screaming and They're they're telling the SEC no we Want to comply like we're we're here Tell us what to do how are there so many People just coming out of the woodwork Saying this Stuff and then just what and then they Then they just happen to get sued years Later it's just ridiculous obviously but Anyway peace continues the crypto Industry has criticized the SEC for what Many call regulation by enforcement While SEC chair Gary giner has argued That most cryptocurrencies are Securities and should be regulated Similarly to other Investments cases Have been taken to the courts with some Firms such as coinbase arguing that Crypto is similar to beanie babies and Others calling for Clarity on how Securities laws
Apply GRL said the test to determine Whether crypto is a security is the Howie test referring to the 1946 US Supreme Court case frequently cited by The SEC to determine whether an asset Qualifies as an investment contract and Therefore a security it's not the Essential ingredients test or the Beanie Babies test or some other tests that Industry folks might like to create for Themselves GRL said on Wednesday the SEC Has been clear and consistent about Howe There are no secret analyses K added oh Yes well the sec's obviously been very Very very clear taking multiple position Multiple positions on all sorts of Topics just in the Ripple case alone Major Hypocrites there so here's what Stuart Alder had to say steuart alate of Course is Ripple's top in-house lawyer Their Chief legal officer here's what he Wrote on social media platform x uh just A bit earlier this evening director grul Says the crypto enforcement unit acts With Integrity but ignores the debt box Sanctions for gross abuse of power the Ripple judgments admonishment for for Lack of quote faithful allegiance to the Law end quote and by the way gross Abusive power that was from the debt box Case that's an actual quote from the Judge as well and then steuart ald says And the quote arbitrary and capricious End quote finding in the Grays scale
Case that's funny it' kind of weird how Gerber gr would just leave those up no We're the SEC we're doing everything Right and on the up and up yet here you Have in case after case the judge is Saying No you little punk ass You are not I'm just kind of Translating That you just kind of lay Terms obviously he's not being Intellectually honest Here really steams my vegetables Son Mr alate continues on the substance He cites one one portion of the Ripple Ruling but ignores that the SEC lost or Gave up on most of its claims in the Case including the Court's rejection of The sec's assertion that xrp was in and Of itself a Security and folks that was obviously The most important part that's the only Part that really truly truly mattered to Where if that wasn't a win for ripple And xrp holders because it mattered to All of us it matters to everyone in the Ecosystem that would have been the Devastating law You know not not that I want the SEC to Win on anything in the Ripple lawsuit But you know if if uh you know there's Unfavorable terms regarding the remedies Or or if you know there's no they choose To appeal and it's not whatever anything Goes okay I'm not saying that would be Good I'm just saying for us typical xrp
Holders out here it's never going to Impact us we W anyway then Al says he says the SEC Has given clear crypto guidance but that Guidance which is still on its website Today adds and subtracts factors to the Hoe test at whim leading to what the Agency's former general counsel said was Greater Confusion if this agency wants to Honestly repair the institutional damage Inflicted both to itself and the Industry over the last many years in This misguided war on crypto it needs to Get off its soap box and own up to these Truths golf clap for Mr Alder everybody Fantastic and of course obviously true But if the SEC is going to continue to Lie I'm going to continue to highlighted On this channel because at least I have A platform where I can do so what a Bunch of little baby back Bas now this headline from DC journal The SEC came to destroy crypto not to Regulate it that's the damn truth again This is written by Roslin Leighton who Just it's literally spent years writing Articles shredding uh Kim Jean guinsler In the SEC and she's continuing to do That reads as follows following the Securities and Exchange commission's Effort to stretch Bend and twist the law To Grant itself authority to regulate Cryptocurrencies has been like watching
An exhausting video game by the last Level the monster has grown so grotesque And ridiculous that you're just waiting For the relief of seeing it explode so The comforting words game over can Finally appear of course I'll just pause And note uh usually when game over Appears that that's when you lose just Small critique small critique anyway she Continues unfortunately it's not a game For many uh many Innovative uh US Financial tech Companies the SEC has mobilized all its Resources to carry out a policy against Crypto companies that is not designed to Protect investors from fraud or even to Clarify what legal compliance means it Is practicing what Professor J W verett Of George Mason University is called Enforcement by Destruction trying to turn courts into Execution Chambers for an industry it Never intended to regulate but to Destroy it comes down to a bait and Switch strategy by two successive SEC Chairman to claim that every digital Asset no matter how it is designed is Itself a crypto asset security and that Gives the agency full Authority to Require they be registered like Stocks nothing in nearly a century of Securities Law provides the SEC such All-encompassing authority over an Entire asset class but the SEC strategy
Was never to prove this theory in court So much as to have a pretext to launch Enforcement actions never meant to bring Anyone into Compliance reading over the court Dockets of SEC non-fraud enforcement Actions against crypto companies the Malicious road map becomes clear first The agency has never issued a single Regulatory guideline registering a Digital asset or determining whether it Will be a security there are no forms no Instructions and no published rules for Registration companies that go to the SEC in good faith to ask for guidance Have instead gotten subpoena and sued For failing to register despite having No idea how it has been an exercise in Gaslighting and not one cryptocurrency Transaction among billions has ever been Registered by the SEC nor do they ever Intend to allow a registration to happen The sec's lawsuits seek such huge dollar Figures in discouragement and penalties At the start that companies often see no Choice but to Fold the few who decide to fight have Exposed how truly bad the sec's faith Has become and folks this is where we Get to the part where she talks about Ripple and specifically xrp and and I Will tell you and it's just amazing Having a front row seat watching this as History unfolds because this is a case
That's going to be studied for decades To come in the legal profession in um You know in universities And it really truly is as impactful as We in the xrp community believe that it Is I mean obviously you know those Involved are going to be paying the most Attention and think it's the biggest Deal that there could possibly be but it Really is that big a deal in terms of uh Setting the trajectory for what would Happen after that in the for the entire Crypto asset class if this went poorly For ripple and for xrp holders whatever Other coins you listening hold would Have been in serious Trouble so this is a major win and it Just so happens to be uh directly Impacting first and foremost uh people Within our community most directly Obviously And it's just amazing out of everyone in Crypto it happened to be our community Of Course still unbelievable the Cryptocurrency I put the largest Individual portion of my money into and I know it's true for many of you out There that's the one they attacked Leading up to the bull market last cycle That's the one oh of course well thank You my God all I can do is laugh about It now because it absolutely has Substantially negatively impacted my
Personal financial well-being and and All of you listening as well of course I Mean because I I can just imagine had I Gotten the life-changing wealth last Cycle which I believe would have Occurred because the entire assd class Was blown up and X3 would have had a new All time high had I gotten that I'd be Sitting in a different position today And I'm still happy with where I am Broadly speaking in life for sure Financially speaking yes yes yes yes but I could have then you know after the Market tank taken 10% of those profits Chucked it back in I'd still be earning Money and then that money the extra Money from my life changing mod that Would be invested and other stuff being Preserved but yet earning money maybe in More traditional means there's all sorts Of stuff get in real estate Whatever I'll never get to have that Opportunity now because of them not for That market cycle and then if you Understand the time value of money Compound interest then you start to Realize just how catastrophic this was It's not just missing up for that market Cycle it's all of the everything that Would have happened in subsequent years As a result of reinvesting the Money so it's it's unfortunate but I'm Not going to have a like a sour attit All I can do is laugh about it at this
Point and the truth is I'm way better Off than I would have been if had I not Jumped into uh to crypto I'm way better Off financially and when it comes to Stuff like this happening in life it's Okay to acknowledge it and kind of About a little bit I suppose but the Truth is when it comes to to stuff like This just it's better to just focus on The stuff in life you can Control and I can control the rest of What I do in crypto it's just yeah you Get a rolled or like a you know a sit Situation like this happening is like You can't control it just pops up out of Nowhere and you never expect it and it Can seem very scary and devastating at The moment but you just control the Parts that you can control that's how You should approach pretty much anything In life here but it doesn't make sense To um Harbor you Know some sort of resentment that would Make you feel miserable on a daily basis So I'm doing nothing like that now every Now and then I am going to about It a little bit But I'm feeling I'm feeling happy like I I am thrilled I'm excited on a Day-to-day basis just to be here that's All I'm saying Anyway peace continues though the SEC Sued Ripple in December 2020 claiming That the xrp token itself was a security
Which meant every offer and sale of xrp Was an unregistered investment in the Company even on secondary markets Between parties that had no knowledge or Connection to Ripple it was a novel Legal theory that Twisted Decades of Jurist prudence on Securities Law it was Clearly designed to give the government Enough leverage to force Ripple to close Its doors but in her July 2020 3 US District Court Judge uh anelisa Torres Firmly shot it Down it took nearly 3 years and According to Ripple CEO Brad Garlinghouse over $100 million in legal Costs to get clarity that the xrp token Is not a security when offered and sold On public exchanges along the way the SEC was castigated by a Magistrate Judge For dragging out the case with Unnecessarily complicated litigation Tactics that lacked a faithful Allegiance to the law Taurus found that Only one set of $700 million in sales of Xrp to institutional investors Constituted Securities that should have Been registered no fraud was alleged and None of the investors had lost money or Been harmed however instead of using the Decision to lay out a registration Framework for future companies to be Compliant with this Technicality the SEC could only chafe at How it impeded its one and only
Objective to destroy Ripple recently the SEC dropped all Pretenses it filed a proposed final Judgment requiring Ripple to pay $2 Billion in discouragement and penalties For this non-fr fraud Technicality that is 300% of the value raised by the Institutional sales of Xrp the sec's brief reads like a Vengeful diet tribe with exhibits that Include nearly 30 pages of tweets where Retail holders of xrp the people the Agent is allegedly protecting celebrated T's ruling that the token is not a Security and by the way folks I did Mention it in one video but one of those Tweets in that exhibit one of those Tweets is from me I am in a document uh Filed by the secc two judge tours one of My tweets with the moon Lambo name what In the ever loving like what fresh hell Is this how is this real life even I Mean it's funny but my God these ass hat Pricks I had some very Choice words About them which I am not comfortable Repeating on on YouTube here but I had Some Choice words about them on social Media platform X I'll just leave it at That I'm not going to repeat it here I'm Not thrilled with them I'll just say That anyway then she wrapped up by uh Writing as verett Noted most final settlements in non-f
Fraud cases in recent years where a Defendant simply failed to register Average less than 12% of the original Penalties sought by the SEC not one of Those settlements provided Clarity to The markets about how crypto sales can Be compliant however several companies Were destroyed in the process what other Goal could the SEC have with its absurd $2 billion demand other than to destroy Ripple I'll pause I'll add one also do Harm xrp holders hoping that Ripple will Sell and I talked about that in another Video so I'm not going to uh in this Video but yeah hoping to damage the Price of xrp and her xrp so that also And then she says it is encouraging that The have been knocking the SEC back in This and many other high-profile cases However not every defendant has the Resources to fight enforcement by Destruction wins by attrition more than Merit thanks to the political Acquiescence of a government with no Qualms with an that actively seeks to Destroy Capital formation rather than Facilitate it gol clap for Rosell Lon Everybody fantastic article poor per Usual and isn't that something so 300% Of what the actual 7 that $700 million Charge that's what they want Ripple to Pay but normally it's 12% 300% versus 12% folks there's no Precedent for this these people are
Scumbags I'm not a financial adviser you Should not buy or sell anything because Of anything I say right that would be a Very very very bad idea until next time To the Moon Lambo
