Ripple (XRP) vs SEC affair: A fire not always extinguished!

The lawsuit filed against LBRY and won by the SEC in the United States over the real estate securities case has everyone perplexed. Followers of the LBRY network did not expect such a defeat. Ripple’s blockchain users also fear a similar fate in light of the SEC’s blunt accusations over XRP tokens. The outcome of the trial is to be feared when we know that the previous affair with LBRY turned to the advantage of the American financial policeman.

Ripple wary of SEC, disapproves of victory in LBRY case

Ripple not fading after SEC victory in LBRY case

Before touching on the Ripple vs SEC case, a brief historical review of SEC vs. LBRY is necessary. The case between the SEC and LBRY New Hampshire court has not been in good taste for all Ripple users. Indeed, the SEC brought charges in the first quarter of last year against LBRY. The allegations made by the company are based on the counterfeit LBC tokens.

According to the SEC, they were securities sold in complete disregard of the securities law. Of course, LBRY’s response was contrary to the SEC’s allegations. Unfortunately, the lawsuit did not end in favor of LBRY, hence the anger of Ripple.

The episode Ripple vs SEC for its part has some similarities at the level of the facts. The XRP tokens are taxed securities by SEC. The institution goes further and maintains that Ripple would have made a illegal sale of $1.3 billion XRP to the public. Based on the fact that the regulator did not issue a notice that calls into question the illegal actions of Ripple Labs. Logically, the company supported by its senior executives refuted these accusations.

Fearing a denouement similar to that of LBRY, the crypto community has rallied to the cause of Ripple. There are many requests for friendly support from more than a dozen entities.

Conclusion

Despite the declaration made by the regulator, all is not over. The end of the trial could be different. Unlike LBRY where the regulator fully won the SEC’s case, Ripple’s situation looks different. Not all XRP tokens have been recognized as securities, just a large part. Which suggests a rather different sequel.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Tremplin.io!

Similar Posts