How Ripple's Win Reshapes Crypto with Paul Grewal & Mike Selig
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 14 July 2023
⏱️ 74 minutes
🧾️ Download transcript
Summary
A U.S court has ruled that XRP is not a security, and if XRP is a security then what implications does this have for other tokens?
Joining us today is Paul Grewal and Mike Selig, both experts in their respective fields who are here to help walk us through the implications of this court decision and what it means for our industry as a whole.
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TIMESTAMPS:
0:00 Intro
4:18 Great Day to Be a Lawyer
7:47 Was This a Surprise?
9:27 TLDR on the Ripple Case
16:08 What is a Security?
20:18 How Binding is This Decision?
27:05 Establishing a Precedent
31:47 SEC's Argument Falling Apart?
38:28 Opening The Door to More Tokens
42:37 What Does This Mean for Token Holders?
47:57 How Does This Impact US Regulation?
53:29 The Fight Ahead
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RESOURCES:
Mike Selig
https://twitter.com/MikeSeligEsq
Paul Grewal
https://twitter.com/iampaulgrewal
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
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https://www.bankless.com/disclosures
Transcript
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| 0:00.0 | We're going into the details with some crypto legal minds and experts. |
| 0:08.1 | The news is this. |
| 0:09.5 | The sales of XRP, the asset, do not constitute an offer of investment contracts. |
| 0:15.9 | This is the words of a judge effectively. |
| 0:18.1 | What this means is a US court has ruled that XRP is not a security. |
| 0:23.9 | The question, of course, is if XRP is not a security, how can all of the other tokens |
| 0:29.8 | that the SEC alleges are securities, be securities, including Matic, including Salana, |
| 0:34.6 | including Cardano, including ETH. |
| 0:38.1 | We're going to get into the details of that ruling today on this news. |
| 0:41.7 | Of course, the crypto market has been up, XRP has been up, the coin-based token has been |
| 0:49.3 | up as well. |
| 0:50.3 | I shouldn't say token. |
| 0:51.3 | I should say stock. |
| 0:52.3 | That one's a stock and I promised yesterday in the roll-up that we would walk through |
| 0:56.6 | the details with some legal minds, some folks where we can get into a deeper analysis |
| 1:01.6 | than I can give you. |
| 1:02.9 | Here we are joined today with Paul Graywell and Mike Selig. |
| 1:05.8 | They are both experts in this field and I think we'll provide some insight into the implications |
| 1:11.6 | of this and the decision itself. |
| 1:14.6 | Guys, we're going to get right to the episode. |
| 1:16.6 | But before we do, I want to thank the sponsors that made this possible, including our number |
| 1:20.8 | one recommended crypto exchange, Kraken. |
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