The crypto community is concerned about the aftermath of the LBRY case on the XRP lawsuit judgment.
The LBRY case is similar to the Ripple case, in which the company was accused of marketing unregistered securities.
By March 2023, it is expected that the decision in Ripple's case will be made public.
through multiple stages. As the case nears its conclusion, speculation about its outcome is circulating in the crypto world.
The case has been ongoing for more than two years, and the battle appears to be never-ending. The continuing case also had an impact on the price of XRP, keeping retail interest low.
Following the court's acceptance of arguments from groups and individuals in support of Ripple, the cryptocurrency witnessed minor successes in the past two months.
Lawyers claimed that the SEC's decision that Ethereum is not a security creates a conflict of interest. Legal authorities also believe Ripple has a better chance of winning the lawsuit than the SEC. Ripple presently has the support of 16 firms, including Coinbase, in its fight against the SEC.
The SEC has been involved in legal battles with several cryptocurrency projects. The LBRY case also made the blockchain community aware of what they could potentially expect in a similar situation.
The LBRY case is similar to the Ripple case, in which the company was accused of marketing unregistered securities in the form of LBC tokens. When the company lost in November, it also took to Twitter to address the community.
The outcome of this case is significant because the SEC can use it to justify its victory in the Ripple case.
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