I was active on LBRY ~2 years ago and thought they had a really bright future. This answer is bad news, but at least they are no longer stuck waiting.
"....and other projects will be forced to close forever."
Many projects will simply avoid the USA.
Topic: SEC vs LBRY Summary Judgement Ruling (Read 51 times)
Under this standard, almost every cryptocurrency, including Ethereum and Doge, are securities.
I can see putting Ethereum in there, pre-sale, promises, and a ton of other things. Doge was started as a joke and never made any promises other then 'much coin'
Ethereum has a good lobby. There is no point in continuing to discuss Ethereum. They'll have the best lawyers if there's ever a trial.
Larger ecosystems will probably pay a heavy fine, and other projects will be forced to close forever.
Under this standard, almost every cryptocurrency, including Ethereum and Doge, are securities.
I can see putting Ethereum in there, pre-sale, promises, and a ton of other things. Doge was started as a joke and never made any promises other then 'much coin'
But, and this is just me saying this just an opinion, they did a lot of things in terms of marketing, promotion and what not that made them a target.
There are a lot of other projects out there that are still around and not being bothered.
I don't want to say just another shitcoin scam, but this one got the eyes of the government on it. But, I can't think of any other way to put it.
Just my opinion.
-Dave
Quote
I was waiting for the outcome of the trial with Ripple, but the SEC can bury a lot of crypto projects.
Most of which should not see the light of day to begin with...
Case No. 21-cv-260-PB
Opinion No. 2022 DNH 138
https://odysee.com/@lbry:3f/secvslbrysummaryjudgementruling:a
MJeremy Kauffman (C)
"The SEC vs LBRY case establishes a precedent that threatens the entire US cryptocurrency industry.
Under this standard, almost every cryptocurrency, including Ethereum and Doge, are securities.
The future of crypto now rests with an org worse than the SEC: the US Congress"
https://twitter.com/jeremykauffman/status/1589666351324753921
I was waiting for the outcome of the trial with Ripple, but the SEC can bury a lot of crypto projects.
Opinion No. 2022 DNH 138
https://odysee.com/@lbry:3f/secvslbrysummaryjudgementruling:a
MJeremy Kauffman (C)
"The SEC vs LBRY case establishes a precedent that threatens the entire US cryptocurrency industry.
Under this standard, almost every cryptocurrency, including Ethereum and Doge, are securities.
The future of crypto now rests with an org worse than the SEC: the US Congress"
https://twitter.com/jeremykauffman/status/1589666351324753921
I was waiting for the outcome of the trial with Ripple, but the SEC can bury a lot of crypto projects.
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