
Claimed ‘win’ for LBRY in SEC case is a puff of smoke
XRP is currently under the gun over, and nothing that occurs in the LBRY case at this point will affect Ripple’s liability for its initial XRP offering.
XRP is currently under the gun over, and nothing that occurs in the LBRY case at this point will affect Ripple’s liability for its initial XRP offering.
While the U.S. securities regulator won the November court ruling, a judge has ruled that investors selling the LBC token in secondary markets are not violating securities laws.
A total of 16 companies, made up mostly of 'crypto' interest groups, have filed an amicus curiae in the SEC vs. Ripple saga, about a week after the U.S. state agency won its case against LBRY.
The tight regulations on the digital asset space are not the problem but instead, turning the original Bitcoin into a gambling of speculations.
LBRY lost its battle against the SEC following a federal judge's ruling that the LBC tokens are securities, sending a signal that Ripple may likely face the same fate.
The U.S. regulator said the offering of LBRY, whose business focuses on distribution and monetization of digital content without an intermediary, constituted an offering of securities under Howey test.
The charges are the latest in an ongoing regulatory crackdown on token sales during the "ICO craze" of the past few years.