'If $XRP is a security, and you think it is, and I think it is, why are these crypto exchanges not in violation of law?' the congressman questioned the SEC. ripple
is a security, and you think it is, and I think it is, why are these crypto exchanges not in violation of law?
He continued: “And, is it enough that the crypto exchanges have said, ‘well having committed tens of thousands of violations in the past, we promise not to do anymore in the future.’ Is that enough to get you off the hook for enforcement?” The SEC director replied: “I can’t talk about what matter we are looking at and not looking at. We have brought exchange cases, we brought one last year againstIt’s easier to go after the small fish than the big fish, but the big fish operating major exchanges did many, many tens of thousands of transactions withHe added: “You know it’s a security. That means they were illegally operating a security exchange. They know it’s illegal because they stopped doing it, even though it was profitable.
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