The decision to “sell on secondary markets” in the securities lawsuit between the US Securities and Exchange Commission (SEC) and cryptocurrency company LBRY has brought the LBC token up more than 100% in one day.
Final session of securities litigation between SEC and LBRY January 30 seen in history. In a similar case Ripple’s (XRP) acting as attorney John Deatondetails of what happened in court. shared. Covering the issue in a lengthy tweet thread, Deaton said the judge’s decision was the LBC’s decision. Does not apply to secondary sales He emphasized that he clearly stated:
The judge’s order does not apply to secondary market sales. When you think about it, if the token itself were a security, then its decision would apply to secondary sales. But given that the decision does not apply to secondary sales, there is not much the SEC can do.
LBRY picture twitter In the post from his account, it was stated that this situation was not seen as a victory, while the entire cryptocurrency industry was invited to be brave:
Many consider yesterday’s decision a victory for LBRY, but we haven’t won it yet. If third parties (exchanges, etc.) are still too afraid of the SEC to work with it, the judge’s LBCIt doesn’t matter if it says it’s a security or not. This is the real test.
In the court’s decision in November, the LBRY-issued LBC tokens, as claimed by the SEC. in security status and that the company was selling unregistered securities.
2x Rise in LBC Price in One Day
On the other hand, LBC, the native token of the LBRY blockchain, has been on the move since details of the last hearing surfaced online. 140% increased.
before the trial $0.0125 traded at levels LBC, was on the rise with the decision to fall on the market. LBC price suddenly, especially in the last 24 hour period more than 100% the lowest level of the day by increasing $0.0147from $0.0317 reached until.
According to CoinGecko data, it is experiencing a slight pullback from its daily high. LBC at the time the news was written 86.3% with the rise from $0.0274 is being traded.