XRP Capital receives second subpeona from SEC

Michael Arrington

Michael Arrington, founder of XRP Capital, has received a second subpeona from the SEC, again collecting information from them as investors in a U.S. company. The legal costs of dealing with these are not insignificant. They will not invest in any further U.S. deals until the SEC clarifies token rules.

Getting regulation straight is in the national interest of every respective country. If the USA does not provide clarity and certainty, businesses will move elsewhere and the US will be left behind. This is the typical U.S arrogance when other countries are ahead and progressing and U.S is left behind.

The problem with tech in the U.S. was explaining it to people that run companies. Now that it involves money a whole new training program ensues. If they really want to enforce violations then remove the OTC market.

I believe the big banks are setting crypto up to fail in the US. I believe they have HEAVY influence over SEC. Just because they announce they are getting involved in crypto, we don’t know what’s going on behind closed doors.

I really wonder if they understand the potential impact this will have on geo-politics. Losing a hand in the future of tech is akin to losing a hand in the future of the world. These are not stupid people, how are they operating so irresponsibly?