This morning some investors are worried about the SEC v. Ripple case because of an SEC win against LBRY. The judge agreed with the SEC that LBRY sold digital securities. Some investors have taken to social media to express their hopes that Ripple settles instead of seeing the case ended with a similar judgment as the one decided against LBRY.
Does this mean that Ripple will lose their case? That is up to the judge! It is not the same situation, and XRP has a function that existed before Ripple acquired it. However, at the end of the day it is how the judge interprets the situation and law surrounding Ripple.
Ripple’s CEO has stated before that the company will leave the United States if they lose the case brought against them by the SEC. What would that look like for investors? If they go the distance with the case, they know something that we do not know. Most importantly, a loss against the SEC puts the crypto market in jeopardy to some degree.
I have said it from the beginning! This is about people wanting to keep wealth and take control over who gets to keep the keys to the stables. Cryptocurrency will never be safe until laws are updated with the understanding of new technology.
Let’s play Devil’s Advocate for a second and say Ripple sold XRP as a security. What does that mean for us? It means we still get to keep our XRP and perhaps even get some of Ripple. It would also mean that Ripple has to pay a fine. Well, at least this is one of the popular what-ifs. The only thing we know for sure is that the judge will have the last say.
As always, I am not a financial advisor.