Ripple Will Be Unaffected by SEC Win Over LBRY
The U.S. Securities and Exchange Commission won another victory over a crypto project this week. The outcome has raised concerns over its battle with Ripple, but things may not be that bad. It accused LBRY of selling unregistered securities on its decentralized video publishing platform and won the case.
Deaton said that the first reason was that the judge was following the SG case. This case from 2003 was brought against a company operating a “virtual stock exchange” that ended up being a Ponzi scheme. The Ripple judge is not following the SG case, he said. The Ripple case is being held in the second circuit, which is Connecticut, New York, and Vermont. The LBRY case was in the first circuit of New Hampshire. Deaton added that the SEC chose an obscure company in a small jurisdiction.
Source
https://t.me/Cronos_Cardano_Ripple
