https://www.sec.gov/litigation/complaints/2020/comp-pr2020-338.pdf The SEC complaint against ripple XRP is really well written and basically an easier read than I thought it would be. On page 28. Only thing that might apply to BTC is this one section:
54. Both memos warned that XRP was unlikely to be considered “currency” under the
Exchange Act because, unlike “traditional currencies,” XRP was not backed by a central government
and was not legal tender.
Most of everything else applies to the company ripple promoting and selling the XRP which would obviously not apply to BTC or BCH since there is no company connection.
Thoughts?
The lawsuit filed by the SEC against Ripple Labs and the two executives of this company does not relate to the illegality of the issuance or circulation of the ripple cryptocurrency. Therefore, when this judicial hype is over, ripple must again recover in its former positions.
Most likely, Ripple Labs will lose the lawsuit and be forced to pay heavy penalties. However, there is still a small chance that the court will not recognize ripple as a security and, accordingly, the SEC's powers in relation to this company and the ripple cryptocurrency.
