US Judge’s ruling on LBRY may set precedence for the SEC versus Ripple case
On July 11, Judge Paul Barbadoro from the District Court of New Hampshire declined to rule whether the sale of LBC, the native tokens of the LBRY project, constitutes the trading of securities under United States laws. This decision may impact the ongoing Ripple case against the United States Securities and Exchange Commission (SEC), possibly setting a precedence for the presiding Judge, Analisa Torres. In this case, filed in December 2020, the regulator claims Ripple conducted an illegal offering and that XRP is an unregistered security. Impact of Judge Barbadoro’s ruling on LBC and LBRY The ruling by Judge Barbadoro does not express an opinion on whether the registration rule applies to the sale of LBC in the secondary market. The secondary market involves traders buying and selling securities, while the primary market involves the direct trading of securities by the issuing project, in this case, LBRY. You might also like: SEC revises $22m penalty against LBRY, pr...