Joseph Hall, former director of the US Securities and Exchange Commission (SEC), commented on the regulator's lawsuit against Ripple (XRP). According to Joseph Hall, the Ripple case highlights the need for regulation and general clarity in the market.
Joseph Hall: The Ripple case highlights the need for editing and general clarity
The former SEC executive says that the other larger block unit project in the United Picture of the United Picture of the cryptocurrency project remains in a gray area preventing the larger block treatment growth in the United Picture show. Joseph Hall also warns that using laws based on ancient principles to regulate Bitcoin and altcoins is counterproductive. Joseph Hall continues to comment on the subject:
MOVEMENT OF SECURITIES IS A FRAMEWORK DESIGNED TO PROTECT INVESTORS, FACILITATES THE PURCHASE OF SECURITIES AND SUBJECT TO THE WIDTH OF INSTRUMENTS. THIS FRAMEWORK IS NOT MADE TO MANAGE SIMPLE COMMERCIAL ACTIVITIES SUCH AS PURCHASING SERVICES. THE INCLUSION OF THESE ACTIVITIES IN THE SCOPE OF THE SECURITIES REGULATION WILL RISE THE COSTS AND THE COMPLEXES TO MINIMIZE THEIR COSTS AND COMPLEXES TO COMPETE WITH THE MOST USEFUL OR AVAILABLE ALTERNATIVES.
Former SEC manager: SEC has far better options than Ripple
Joseph Hall says I have far better options for pursuing Ripple when it comes to the strength of the SEC lawsuit. Joseph Hall continues to comment on the subject:
WHY DID THE AGENCY OPEN A LITERATURE SO DIFFERENT FROM THE PREVIOUS CRYPTO ACTIONS? NOT SECOND, ARTICLE III COURTS THAT BLOCK THE CONTRACT WILL TELL YOU THAT XRP IS A SECURITY. THERE ARE MANY CRYPTO CURRENCIES WITH GOOD USE STATES FROM XRP. IN THE CASE OF ANY Ripple SELECTED "Ripple LABS" BEFORE ACQUISING A COMPANY, THE VISION TO CHANGE THE FEDERAL CASE-LAW MAY BE BASED ON THE LOST IN XRP CASES ... SO THE SELECTED REGULATORY POSTER.
Joseph Hall argues that the SEC has taken a more sophisticated approach to regulating cryptocurrencies rather than the "strict applied approach".