The US judge rejects Ripple's application in the SEC case: No position on the question of whether the secondary sale of Lbry Credits represents a securities

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Von: Krypto News Österreich

Richter lehnt Entscheidung über Wertpapierstatus von LBRY Credits ab In einem Fall zwischen der US-Wertpapieraufsicht SEC und der dezentralen Content-Plattform LBRY hat ein US-Richter kürzlich entschieden, dass der Sekundärverkauf von LBRY Credits (LBC) nicht als Wertpapier anzusehen sei. Richter Paul Barbadoro vom US-Bezirksgericht in New Hampshire traf diese Entscheidung am 11. Juli. Dieses Urteil könnte als Präzedenzfall für andere ähnliche Fälle dienen, insbesondere für den Fall zwischen der SEC und Ripple. Richterin Analisa Torres wird voraussichtlich ihre Entscheidung in diesem Fall innerhalb der nächsten Monate fällen. Ein Sekundärmarkt ist ein Markt, auf dem Händler Wertpapiere kaufen und verkaufen können, während …
Judge rejects decision on Lbry Credits' securities status in a case between the US value paper supervision SEC and the decentralized content platform Lbry recently decided that the secondary sale of Lbry Credits (LBC) should not be regarded as a securities. Judge Paul Barbadoro from the US district court in New Hampshire made this decision on July 11th. This judgment could serve as a precedent for other similar cases, especially in the case between the Sec and Ripple. Judge Analisa Torres is expected to make her decision within the next few months. A secondary market is a market where dealers can buy and sell securities while ... (Symbolbild/KNAT)

judge rejects a decision on lbry credits' securities status from

In a case between the US Workerspaper Supervision and the decentralized content platform LBRY, a US judge recently decided that the secondary sale of Lbry Credits (LBC) was not to be regarded as a security. Judge Paul Barbadoro from the US district court in New Hampshire made this decision on July 11th

This judgment could serve as a precedent for other similar cases, especially in the case between the Sec and Ripple. Judge Analisa Torres is expected to make her decision within the next few months.

A secondary market is a market where dealers can buy and sell securities, while a primary market enables direct trade between the company and the investors. John Deaton, a US lawyer who represents thousands of XRP token owners, contacted judge Barbadoro to obtain clarity as to whether LBC is to be regarded as a securities. However, Barbadoro made no final statement on this topic.

It is interesting to determine that the recent judgment of judge Barbadoro is a U -turn compared to his previous conclusion. At an appeal hearing in January, Deaton convinced the judge that the secondary sale of LBC does not represent a securities offer.

The SEC itself has admitted that LBC sales on the secondary market do not represent a security. In November 2022, the SEC originally gained a decision against Lbry in the quick procedure and obtained a comparison of $ 22 million. Later the SEC reduced this number and instead called for a fine of $ 111,000, since Lbry has too little funds and was almost insolvent.

Jeremy Hogan, a lawyer and supporter of Ripple, told CoinTelegraph that judge Analisa Torres would probably make her decision in the Ripple case within the next few months. However, he emphasized that these details would not play a role for an average XRP owner.

It remains exciting how the case between the Sec and Ripple is ultimately decided. If Ripple does not fully win, appeals could continue to pull the case. In any case, the big picture will be emerging this year.