4 reasons why Ripple won't suffer from SEC victory over LBRY

The SEC has scored another court victory over the crypto project, which has raised concerns about the case against Ripple.

Earlier this week, the SEC scored another victory over the digital asset project. It accused LBRY of selling unregistered securities on its decentralized video publishing platform and won the case.

The cryptocurrency community was concerned that this could set a precedent for the rest of the industry. At the time, the LBRY team warned:

"The language used here sets a perilous precedent that turns every cryptocurrency in the United States into a security, including Ethereum."

The reasons we list told CryptoLaw. It's a YouTube channel backed by John E. Deaton, who is fighting on behalf of over 75,000 XRP investors.

The Ripple case is pending in the Second Circuit, which includes Connecticut, New York, and Vermont. The LBRY case was pending in the First Circuit of New Hampshire. Deaton added that the SEC chose a little-known company in a small jurisdiction because "they had a favorable judge, and they wanted a favorable decision."

Finally, several international jurisdictions, such as the UAE, Japan, the United Kingdom, Singapore, and Switzerland, have declared that XRP is not a security.

Ripple's XRP stock took a big hit during today's market crash. As a result, it was down 10% on the day, trading at $0.387 at the time of publication.

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