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Polymath Review: The Blockchain For Financial Securities

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Security tokens seem to be all the rage now. From exchanges to regulations and issuance platforms. One such project looking to capitalise on this is Polymath.

This is a project that is looking to power the issuance of digital securities. They are also looking to do so in a way that is completely within global regulatory frameworks – providing issuers with an entire suite compliant tools.

However, can it really be the security token platform?

In this Polymath review I will attempt to answer that and give you what you need to know. I will also analyse the the long term use cases and adoption potential of POLY Tokens.

Why Polymath?

ICOs have become both incredibly attractive and incredibly risky.

While early investors in new blockchain projects have the opportunity to see their investments increase by 100% or even 10,000%, they have an equal opportunity to see their investments go to $0 when the project dies, or even worse the developers simply disappear with the ICO funds.

Let’s be honest, with roughly half of all the 2017 ICOs already failures, this is a pretty risky space.

There are also the legal ramifications to consider. Many of the current ICOs are in violation of U.S. securities laws in one way or another, and while they might not be regulated now, if they do become regulated this could pose a definite long-term risk.

Why Polymath
Why You should consider issuing a security token. Image via Polymath

Possibly worst of all, they threaten to bring more scrutiny to cryptocurrencies from government agencies and regulators.

Polymath is looking to be the cure to the ICO sickness. It was developed to help issue securities tokens in a safe and blockchain regulated manner. And they’ll do so while also providing incentives to bring new financial products to market on the blockchain, while also keeping regulators happy and at bay.

As an additional security measure, only verified buyers will be able to purchase or trade POLY coins.

It seems like an ideal scenario. Companies get easy access to capital, there’s increased transparency, no need for onerous regulations and paperwork, increased liquidity, greater visibility, and an incentive to create financial products.

Let’s take a deeper look and see if Polymath really will be good for cryptocurrencies, or if there’s a fatal flaw in the plan to created a securities blockchain.

What is Polymath?

Bitcoin, Ethereum and most cryptocurrencies are application or utility tokens on unregulated, decentralized networks. Security tokens, which make up a miniscule portion of cryptocurrency market cap, are similar to traditional assets like stocks or bonds, which are typically regulated.

Polymath Overview
Polymath by the Numbers

While the securities token market is currently very small, Polymath aims to flip that statistic on its head, making securities tokens more than 10x the size of the app token market. There are several reasons they believe that this can happen, including:

  • Security tokens are more secure
  • Security tokens will increase liquidity
  • Their ST20 standard provides nearly instantaneous transactions
  • And there will be a 24/7 low fee trading environment.

The Polymath team seeks to garner acceptance for security tokens through the use of smart contracts to apply restrictions from the ground up, rather than having them imposed after the fact with a top-down regulatory enforcement model.

Polymath Seeks a New Model

Traditionally, financial markets are overseen by a central agency who provides regulations and enforcement of non-compliance. This is how stock, bond and commodities markets work today.

The regulatory agencies create laws and regulations that get pushed down to all the investors and companies involved in listing or trading, and they all have to follow these regulations or get banned from the markets, or worse, face legal actions.

Polymath Tech Stack
The Polymath technology Stack

That’s exactly the type of regulation that cryptocurrency markets will get if an alternative isn’t found.

Polymath seeks to turn that process upside down by involving government officials and attorneys at the beginning of the token creation process.

If this is set-up properly it could do away with the need for a regulatory body to get involved later in the process. It could even create a more legitimate blockchain based market that will reach mainstream faster than following the traditional route.

Under this set-up any new security tokens issued would be regulatory compliant right from their issuance.

Checks and Balances

This process also assumes some checks and balances would be rolled up into process. One such would be the use of a “template” for token creation, and all new security tokens would have to adhere to this template.

This would allow each token to have its own transparency and history, allowing investors to get full information about the token before investing. And since it all occurs on the blockchain it will be transparent and do away with the need for multiple unreliable channels to disseminate information.

There would be two very positive outcomes from this.

  1. It would help police any bad actors.
  2. It would allow investment rules to be added for individual security tokens.

Currently there is something known as an Accredited Investor classification that the SEC uses to restrict the purchase of certain assets and asset classes. The idea behind this is that those who receive Accredited Investor classification are more sophisticated investors and less likely to fall for scams. They are also more able to assess risk and take on a high-risk high-return investment.

By using this model in the security token market the same outcome can be achieved, but without the need for the SEC and regulations.

How Does Polymath Work?

Polymath will use the POLY token to run the entire network, and will incentivize developers and lawyers to participate by awarding them POLY. Those issuing assets on the blockchain, and those investing in the assets will pay fees in POLY to keep the network running smoothly.

With templates in place, an issuer can create their own security token quickly and easily through the use of smart contracts and a Create a Security Token wizard. This is already being tested and you can try it out for yourself at the Polymath website.

There are 29 fields that ask for basic company information, the type of investors you’re looking for, the location of investors, and whether investors must be accredited among other things.

Once the form is filled in completely you can submit it and it is reviewed by Polymath Legal Delegates. The Legal Delegates will look for regulatory compliance, and can make suggestions for which security token template would be a best fit.

The system brings together Protocol, Legal, Application, and Exchange layers, thus increasing compliance, transparency, and ultimately liquidity.

Polymath Seeing the Future

All of this becomes important now because it’s only a matter of time before our traditional securities end up on the blockchain. And while there are some downsides, the security, efficiency and transparency far outweigh these.

There are other blockchains looking at a solution for this, but none is taking the big picture approach that Polymath has taken. They are looking to involve not just the public, but also venture capital funds, private equity, and even derivatives in one platform that solves legal compliance, security, decentralization and liquidity issues.

And surprisingly, liquidity might just be the key.

Current exchanges remain terrified of giving away too much information about new tokens that could cause increased regulatory investigations. This keeps ICOs in the potentially illegitimate category, and limits liquidity as investors remain hesitant to invest.

The Polymath solution makes for a regulatory friendly market, and removes the primary roadblock to liquidity. This should serve to help an active community of investors from all areas of finance grow in an organic fashion. If this proves true, Polymath will quickly grow to be not only the first security token exchange, but also the biggest and most developed by far. They would have an immense first mover advantage.

While this all sounds wonderful, some issues remain, although Polymath does seem to be working their way through them.

Polymath’s Potential

The SEC is correct in at least one huge risk with ICOs. Many issues are complicated by international trading, and a borderless, anonymous and opaque market only amplifies these issues.

Consider the comments you see on Facebook posts. They can be funny, and even inflammatory, but there are no ramifications to them. And if your money were tied to them they might not be so funny anymore.

The SEC doesn’t want to get too caught up in cryptocurrencies yet, and this is why they’ve largely taken a “you’re on your own, so be careful” approach to the markets. This can’t last forever and already its changing in some corners of the world.

For example, Gibraltar recently announced the world’s first ICO regulations aimed at protecting their citizens from fraudulent ICOs. They are looking to require ICO projects to provide “adequate, accurate and balanced information to anyone buying tokens.” And the catalyst was the explosion of ICO funding in 2017.

The Polymath version of security tokens would already provide much of the information Gibraltar is seeking with its regulations, meaning with security tokens the regulations wouldn’t be necessary in the first place.

POLY Token

The POLY token is an ERC20 utility token on the Polymath platform. I know what you are thinking – isn’t Polymath a security token platform?

Well, yes it is but the native POLY tokens are not the securities. They are the fuel that will power the platform. They will be used by those issuers on the platform that would like to create their own digital securities.

POLY tokens were released as an airdrop in 2018. There is a total supply of 1 billion POLY tokens with a circulating supply of just over 400m POLY. You can view the Polymath ERC20 smart contract here.

Poly Price Performance

When released early in 2018 as an airdrop of 240 million coins, Polymath was priced at $0.79 a token, but quickly shot as high as $1.64 a token.

Unfortunately, time has not been kind to POLY, and the token has lost more than 95% of its value, trading down to around $0.02 as December 2019 gets off to a start.

POLY Price Performance
POLY Price Performance. Image via CMC

This is of course not something that is isolated to Polymath. The entire Altcoin space has faced a collapse in price as pessimism has gripped the sector. However, POLY hodlers should feel less hard done by as the POLY tokens were after all not part of an ICO.

POLY was distributed through a cryptocurrency airdrop. This means that it was given out for free and was not sold in any crowdsale. It also means that Polymath is unlikely to face any questions from the SEC on whether their tokens constitute a security.

Buying & Storing POLY

POLY is listed on a fair amount of exchanges. These include the likes of Binance, Upbit and Huobi. However, the bulk of the volume appears to be taking place on the Bittrue exchange with over 50% of the daily volume.

This is not the best from a token liquidity perspective as it means that this one exchange can have an outsized impact on the market for POLY tokens. It also means that token price discovery is a bit distorted. Indeed, you can see that there is quite a disparity in value across these exchanges.

Binanace POLY
Register at Binance and Buy POLY Tokens

Taking a bit of a closer look into the Binance order books we can see that they are relatively thin and there is not that much daily turnover. This means that your orders are likely to face quite a bit of slippage if you were to place large block orders.

When it comes to storage, these are ERC-20 tokens which means that you have quite a selection. You can use wallets such as MyEtherWallet or MyCrypto or you can you use Metamask. Of course, the most prudent would be to store it in a hardware wallet like a Ledger or Trezor.

Polymath in 2020

Since its inception a little over 2 years ago, there have certainly been a number of changes that have taken place at Polymath.

One of the most visible changes is the number of tokens that have been issued. In December 2019 there have been 153 tokens deployed, and twelve of those have five or more token holders. There have also been 305 ticker symbols that have been reserved.

Obviously, there is still quite a way to go, but the growth in the past 18 months has been outstanding, especially when you combine it with all the background changes that have occurred, such as the release of V.3 of Polymath, which makes it ERC-1400 compatible, or the impending release of a native Polymath blockchain.

Socially we’ve seen Polymath grow its following on Twitter by 10,000 and its following on Reddit by 1,500. More disappointing is the loss of nearly 30,000 Telegram subscribers.

Also disappointing is the performance of the POLY token, which has fallen to just above $0.02 and is now the 297th largest cryptocurrency by market capitalization. That’s a huge drop from its release price and is just a bit above the all-time low of $0.018557 which was hit on November 25, 2019.

Obviously, there’s a lot of room to the upside for the token, but it needs a catalyst. That catalyst could come with the release of a native blockchain for Polymath, but we will have to wait since the testnet won’t be released for at least 6 months, and the mainnet could be more than a year distant.

ERC-1400 Security Token Standard

The ERC-1400 Security Token Standard is a library of standards that have evolved over time, and have seen increasing adoption among Ethereum protocol developers and service providers.

Polymath upgraded to make their ST-20 tokens fully compliant with the ERC-1400 standard with their v3.0 “Poho” release in July 2019. The upgrade was necessary as service providers and projects across the security token space have been increasingly adopting the standard.

ERC-1400 evolved from a single monolithic standard into a library of interoperable standards with the intention of facilitating its adaptability and growth in a rapidly changing legal and regulatory landscape, allowing new functionality to be added without compromising existing compatible services and infrastructure.

The Polymesh Blockchain

In May 2019 during Consensus New York, Polymath announced its intent to develop and release a new base layer public blockchain underlying Polymath. They named this new public blockchain Polymesh. Since then a team of 6 developers has been working on the open-source project, and in October 2019 they were able to deliver a proof-of-concept.

The Polymesh blockchain will be built on top of the Parity Substrate, a blockchain foundation which builds upon the achievements from the major blockchain protocols, and uses the lessons learned to give developers the latest technology to build flexible blockchains.

The Polymath team considered a number of approaches to building their base blockchain and settled on Parity Substrate for several reasons involving technology, roadmaps, product fit, and community aspects. Ultimately the decision to use Parity Substrate came down to its modularity which is something Polymath feels is critical to its architecture.

Polymath plans on extending the core Substrate capabilities by building a suite of modules that provide financial primitives at the base blockchain layer. These cover critical functionality such as identity, the regulated assets themselves, settlement and other key categories of capital market functionality.

Polymath plans on releasing the testnet for its base blockchain sometime in the second quarter of 2020, and the mainnet is scheduled for release in the fourth quarter of 2020. With no other major upgrades on the project’s roadmap, we will have to wait roughly 6 months for the testnet to show us the new direction for Polymath.

Polymath Development

All this looks great but has all the work that Polymath claims to have been doing over the past year translated into development output?

One of the best ways to determine this is to look into their open source code repositories. By observing the total code commits one can get a rough sense of how much work is taking place.

Hence, I decided to dive into the Polymath GitHub and take a look at their public repositories. Below are the total commits to their pinned repos over the past 12 months.

Polymath GitHub
Commits to select repos over the past 12 months

As you can see there has been quite a lot of code commits to these repositories. It is also worth noting that there are a further 45 other repos with varying degrees of commits.

This is more than I have seen on other projects that are at a similar stage in their lifecycle and shows that things are quite busy at the Polymath HQ. You also may want to take a look into their Polymesh repo to see exactly why they are so excited about it.

If you wanted to keep up to date with the project then you can follow their official blog. The team is quite active when it comes to updating their community.

Conclusion

The blockchain is here, and here to stay, and given the characteristics it has, it’s nearly impossible to imagine that our securities and assets won’t soon be on a blockchain. It’s just the most efficient and transparent method. As we’ve already seen with Polymath issuing securities on a blockchain is both possible and efficient.

Add to that the massive shift to STOs versus ICOs as a preferred method for raising capital in the blockchain space and Polymath could be looking at substantial growth.

Unfortunately, governments are also certain to step in to regulate these markets, in fact, some have already begun. With so much capital at risk, and security laws being broken already by some ICOs, it’s almost surprising we haven’t already seen regulations popping up like mushrooms after a spring rain.

So far regulators have been slow to act. If a solution like Polymath can standardize the release of security tokens we might find regulators mostly standing aside to allow the nascent space to grow organically.

The solution is in front of us in the form of the Polymask Network Security Token. Obviously, Polymath is still very new and it seems to have had a spotty start, but there’s also a solid team behind it, and it has a working product. Once a native blockchain goes live things could get very interesting indeed.

Featured Image via Shutterstock

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.coinbureau.com/review/polymath-poly/

Blockchain

Blockchain.com erhält die bisher größte Einzel-Investition von 100 Mio. USD

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Die in Edinburgh ansässige Baillie Gifford & Co. hat 100 Millionen US-Dollar in Blockchain.com investiert.

Der 110 Jahre alte Vermögensverwalter ist bekannt für seine frühen Investitionen in Tech-Firmen wie Amazon, Google und – besonders aktuell – Tesla. Laut Peter Smith, CEO von Blockchain.com, ist dies eine der ersten Investitionen von Baillie Gifford in ein Krypto-Unternehmen. Er sagte auch, dass diese Investition eine weitere Befürwortung von Kryptowährungen von institutionellen Investoren darstellt. Dies ist die größte Einzel-Investition des Blockchain-Startups bis heute (Stand: 21. April 2021).

Bisherige Finanzierung von Blockchain.com

Letzten Monat gab Blockchain.com bekannt, dass das Unternehmen in seiner Series-C-Finanzierungsrunde 300 Millionen Dollar eingenommen hat. Damit lag die Bewertung des Unternehmens bei 5,2 Milliarden US-Dollar. Dies folgte nur einen Monat, nachdem das Unternehmen 120 Millionen Dollar eingenommen hatte. Während dieser Runde kamen Louis Bacon und Kyle Bass als Investoren hinzu. Zu diesem Zeitpunkt wurde das Unternehmen mit 3 Milliarden US-Dollar bewertet. In diesem Zeitraum trat auch der ehemalige stellvertretende Stabschef von Präsident Barack Obama, Jim Messina, dem Vorstand des Unternehmens bei.

Die jüngste 100-Millionen-Dollar-Investition trägt zu den 1,5 Milliarden US-Dollar bei, die Blockchain.com seit seiner Gründung im Jahr 2011 eingenommen hat. Nachdem das Unternehmen während seiner ersten Series-A-Finanzierungsrunde im Jahr 2014 30 Millionen US-Dollar eingenommen hatte, kämpfte es nach dem Zusammenbruch von Bitcoin im Jahr 2017 mit der Kapitalbeschaffung. Aber bereits in diesem Jahr konnte das Unternehmen mehr Kapital aufbringen als im gesamten Jahr 2020.

Blockchain.com hat weltweit über 31 Millionen Nutzer in über 200 Ländern und unterhält 70 Millionen Wallets. Im vergangenen Jahr konnte das Unternehmen seine aktive Nutzerbasis um das Dreifache steigern.

Ein Bild von BeInCrypto.com
Ein Bild von BeInCrypto.com

Erwägung eines Börsengangs

Die Investitionen in Krypto-Unternehmen haben in diesem Jahr ein Rekordniveau erreicht. Dazu gehört vor allem der Börsengang von Coinbase an der Nasdaq. Am ersten Handelstag lag die Bewertung des Unternehmens damit bei über 100 Milliarden Dollar.

Je nachdem, wie sich die Aktien der Krypto-Börse weiter entwickeln, könnten andere Krypto-Unternehmen diesem Beispiel folgen. Dies ist etwas, von dem der CEO von Blockchain.com sagte, dass sein Unternehmen darüber nachdenkt. Smith erklärt:

„Das Unternehmen erwägt seine Public-Market-Optionen sorgfältig.“

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Alle auf unserer Website enthaltenen Informationen werden nach bestem Wissen und Gewissen recherchiert. Die journalistischen Beiträge dienen nur allgemeinen Informationszwecken. Jede Handlung, die der Leser aufgrund der auf unserer Website gefundenen Informationen vornimmt, geschieht ausschließlich auf eigenes Risiko.

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Nick is an Oral Communication Skills Professor and Data Science Specialist in Budapest, Hungary with an MSc in Business Analytics. He is a relative latecomer to the field of cryptocurrency and blockchain technology, but is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.<a href=”mailto:editorinchief@beincrypto.com”>Email him!</a>

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Source: https://de.beincrypto.com/blockchain-com-erhaelt-die-bisher-groesste-einzel-investition-von-100-mio-usd/

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Playboy betritt den NFT-Markt

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Das Playboy-Magazin, eine Ikone der Männerunterhaltung, ist wieder da. Das Unternehmen wird bald seine ersten NFTs auf den Markt bringen.

Der Playboy möchte wie auch zahlreiche andere Unternehmen und Künstler von dem lukrativen und boomenden NFT-Markt profitieren. Darüber hinaus plant das Unternehmen, mit aufstrebenden Künstlern an neuen, originellen Kunstwerken zu arbeiten.

Playboy geht wieder an die Börse

Wie auch viele andere traditionelle Verlage litt der Playboy unter dem starken Rückgang der Nachfrage nach klassischen Printmedien. Im Jahre 2011 verließ das Unternehmen aufgrund von fehlenden Werbeeinnahmen die Börse. Allerdings ist der Playboy im Februar 2021 wieder an die Börse gegangen und möchte nun mit einem neuen Businessplan die Zukunft verändern.

Anfang April 2021 kündigte das Unternehmen Playboy an, dass Nifty Gateway nun ein offizieller Partner von ihm ist.

„Bei unserem Eintritt in die NFT-Branche können wir auf unsere lange Geschichte aufbauen. Wir haben zahlreichen Künstlern eine Plattform geboten, auf der sie sich selbst ausdrücken können.“

Playboy möchte NFT-Archiv erstellen

Der Playboy kooperiert mit Nifty Gateway, um mit seinem extrem großen Archiv, das zahlreiche Fotos, Interviews und andere Kunstwerke enthält, weitere Profite zu erwirtschaften. Außerdem plant das Playboy-Team, gemeinsam mit bekannten und talentierten Künstlern NFTs auf den Markt zu bringen.

Für einer der ersten NFT-Kollaborationen arbeitet der Playboy mit der Künstlerin Blake Kathryn zusammen. Sie wird extra für den sogenannten „Pride Monat“, der im Juni jeden Jahres stattfindet, Content erstellen.

Die Chief Brand Officer von Playboy, Rachel Webber, äußerte sich positiv über Krypto, als die Partnerschaft bekannt gegeben wurde: 

„Wir glauben von ganzem Herzen an die Zukunft einer Blockchain- und Krypto-betriebenen Kunstwelt, die den Schutz von Künstlern und Sammlern, eine kontinuierliche Kompensation der Künstler und die Demokratisierung des Vertriebs und des Sammelns gewährleisten kann.“

Ein Bild von BeInCrypto.com
Ein Bild von BeInCrypto.com

Aktien Preis geht durch die Decke

Der Aktienkurs des Unternehmens (PLBY Group) konnte im letzten Monat um 83 % zulegen. Insgesamt ist der Kurs seit dem Wiedereintritt in den öffentlichen Markt um 173 % gestiegen. Die Modernisierungsmaßnahmen und das geschickte Marketing des Playboys sind wahrscheinlich die Hauptgründe dafür.

NFT BIC
Ein Bild von BeInCrypto

Übersetzt von Maximilian M.

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Alle auf unserer Website enthaltenen Informationen werden nach bestem Wissen und Gewissen recherchiert. Die journalistischen Beiträge dienen nur allgemeinen Informationszwecken. Jede Handlung, die der Leser aufgrund der auf unserer Website gefundenen Informationen vornimmt, geschieht ausschließlich auf eigenes Risiko.

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Savannah Fortis is a multimedia journalist covering stories at the intersection culture, international relations, and technology. Through her travels she was introduced to the crypto-community back in 2017 and has been interacting with the space since.

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Source: https://de.beincrypto.com/playboy-nft-markt/

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Bitcoin correction looms as 4-hour death cross beckons

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Bitcoin is on the brink of a macro reversal in terms of price action having slumped dramatically from its all-time high of $65,000 just one week after the Coinbase’s share went live on Nasdaq.

The world’s largest cryptocurrency is currently consolidating in the $55,000 region following a sharp rejection from the $57.2k level of resistance on Tuesday evening.

Whilst several analysts are predicting that this is the final pullback before another charge to a new all-time high, the four-hour exponential moving average formation demonstrates a severe lack of momentum.

The four-hour 50 EMA crossed the 200 EMA to the upside on October 9 when Bitcoin was worth $11,150 in what is called a “golden cross”. Since then, Bitcoin has embarked on a quite incredible bull market with a 480% rally to the upside.

During which the 50 EMA has failed to cross back below the 200 EMA as the uptrend continued to form new highs at $40,000, $58,500, $61,800 and more recently $65,000.

BTCUSD chart by TradingView

However, the 50 EMA is now aggressively angled to the downside, with it being just $600 away from the 200 EMA at $57,550. A cross will likely take place today unless Bitcoin can surge to above $57,500 before the next two candle closures.

Previous four-hour death crosses have led to a series of major corrections in the price of Bitcoin, with a cross in November 2019 preceding a 25% pullback while the subsequent cross in February 2020 came before a 63% correction.

It’s worth noting that the death cross is not confirmed until the 50 EMA has closed a four-hour candle below the 200 EMA, with a potential move expected to happen over the coming weeks.

For more news, guides and cryptocurrency analysis, click here.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinrivet.com/bitcoin-correction-looms-as-4-hour-death-cross-beckons/

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New Discovery Conference Scheduled for SEC v. Ripple

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One of the lawyers representing Ripple (XRP) in their ongoing lawsuit with the United States Securities and Exchange Commission (SEC) announced that a new discovery conference is to take place.

Defense attorney James K. Filan announced on Twitter that a telephone conference is scheduled for April 30. 

Reports indicate that the conference is about the SEC’s attempts to contact and acquire documents from Ripple’s foreign regulators. These are documents that the plaintiff could use against Ripple in their lawsuit.

In the last of the series of four Tweets, Filan states that the SEC is seeking discovery “outside the Rules of Federal Procedure and the Hague Convention.”

Filan, a former federal prosecutor, invited members of the public to listen in on the conference. He was quick to remind them, however, that recording and rebroadcasting the proceedings is strictly prohibited.

The latest developments

The conference follows a written request to U.S. Magistrate Sarah Netburn filed on April 16.

Ripple’s lawyers issued this request on behalf of Ripple’s CEO, Brad Garlinghouse, and executive chairman Chris Larsen. The letter asked the judge to stop the SEC from trying to acquire information about the defendants from their foreign regulators.

Furthermore, the letter also asserts that the SEC’s action is an intimidation tactic. One that the Ripple execs believe could affect their business relationship with the regulators. 

The lawsuit stems from the SEC’s assertion that, since 2013, Ripple Labs raised over $1 billion with the sale of XRP. The SEC alleges that the tech company violated the United States Securities Act of 1933 in doing so.

Earlier this month, the courts ruled in Ripple Labs’ favor in a dispute with British company Tetragon.

The suspected outcome

On Twitter, James Filan states it is likely that the court will support Ripple Labs. When asked for his opinion on the outcome of the conference, the lawyer shared a two-part tweet, which read:

“I think there is a decent chance the Court will order the @SEC_News  to stop using the MOU requests to get discovery and withdraw any that might be pending,” he writes.

“I also think the Court will order the @SEC_News to turn over to #Ripple everything it collected using […] the MOU process since the lawsuit was filed. Otherwise, the Court will be sending the message to the @SEC_News and everyone else that it’s okay to not follow the Court’s rules and that’s not something a court will normally do,” he concludes.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://beincrypto.com/new-discovery-conference-scheduled-for-sec-v-ripple/

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