Judge Barbadoro’s latest opinion is an about-turn from what he concluded in a January appeal hearing where Deaton persuaded him that the secondary sale of LBC doesn’t constitute a securities offering.The New Hampshire Judge clarified in the appeal hearing that LBC is only considered a security when the sale is made directly.The SEC also admitted that secondary market LBC sales don’t constitute a security. While the SEC won a summary judgment in November 2022, it elected to settle for $22 million at an appeal hearing on Jan. 30.In May, the SEC revised the figure and instead asked the court to impose a fine of $111,000 citing LBRY’s “lack of funds and near-defunct status.”Related: The aftermath of LBRY: Consequences of crypto’s ongoing regulatory process Meanwhile, Jeremy Hogan, a U.S.-based Attorney and Ripple advocate, told Cointelegraph that District Court Judge Analisa Torres will likely lay out her ruling within the next couple of months.“We’ll have the big picture sometime in the next two months and, unless Ripple completely wins, we’ll know the details before the end of the year. If the details are bad then we will see appeals that will drag on for a long time.”“But [that] won’t really matter for a typical XRP holder,” he added.The final ruling is out in the SEC v. LBRY case.The Judge did not rule on secondary sales (or, not surprisingly, the Major Questions Doctrine). He enjoined further violations and issued a penalty.Is a similar result possible in the Ripple case? https://t.co/6bOl34UKpo— Jeremy Hogan (@attorneyjeremy1) July 11, 2023
Magazine: Crypto Twitter Hall of Flame: Pro-XRP lawyer John Deaton ‘10x more into BTC, 4x more into ETH