• About Us
  • Careers
  • Contact
No Result
View All Result
Friday, June 6, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

U.S. Judge Refuses to Rule on Whether Secondary Sale of LBC Qualifies as Security

12 July 2023
in Latest News, News
Reading Time: 4 mins read
101 8
Home News Latest News

Judge Paul Barbadoro of the U.S. District Court for the District of New Hampshire has refused to make a definitive ruling on whether the secondary sale of LBRY Credits (LBC) qualifies as a security.

The U.S. Securities Exchange Commission filed a motion against LBRY in March 2021 over claims that the decentralized content platform offered unregistered securities for sale. The securities regulator won via a summary judgement in November 2022, but LBRY subsequently filed a motion to appeal the ruling.

One of the major points of the new case revolves around the question of whether secondary sales of LBC tokens should be treated as securities under existing securities laws. Secondary sales occur when traders buy and sell securities, while a primary sale involves trading from the company issuing the security directly.

Barbadoro stated in his ruling:

“Accordingly, I take no position on whether the registration requirement applies to secondary market offerings of LBC by persons or entities that are not subject to the injunction pursuant.”

Meanwhile, John Deaton, a lawyer representing many XRP token-holders, took to Twitter to share that he had reached out to Barbadoro to obtain clarification regarding the classification of LBC as security. 

I asked the Judge to clarify that the token itself is not the security just as Judge Castel did in Telegram. He declined to do so because he said that specific issue wasn’t litigated and he believes in exercising judicial restraint. He wrote: “it suffices to say that merely… https://t.co/xR9AemS5Hq

— John E Deaton (@JohnEDeaton1) July 11, 2023

According to Deaton, Barbadoro responded that the issue of whether secondary sales of LBC qualify as securities have not been previously litigated and that he believes in “exercising judicial restraint.“

Barbadoro’s response and ruling is a setback for Deaton, who had hoped that the judge would provide a clear answer on the classification of LBC, 

The recent ruling by Barbadoro potentially establishes a legal precedent that could be relevant to Judge Analisa Torres, who presides over the SEC’s case against Ripple in the upcoming months.

In June 2023, the SEC vs. Ripple case took a new turn when Judge Torres ruled that certain documents related to William Hinman, who served as the director of the SEC’s Division of Corporation Finance from 2017 to 2020, were made public. The documents provide insight into the SEC’s internal conversations and conclusions and have important ramifications for the ongoing litigation against Ripple Labs.

The documents contained Hinman’s 2018 speech in which he stated his opposition to the idea of treating cryptocurrencies like bitcoin (BTC) and ether (ETH) as securities. They were made public at the request of Ripple’s attorneys. 

The U.S. SEC has not yet commented on Barbadoro’s ruling.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with Markets PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: LBRYRippleU.S. SEC
Share63Tweet40Share11
Previous Post

Rodeo Finance Loses $888,000 in DeFi Hack

Next Post

ARK Invest Sells $12M Worth of Coinbase Shares

Favour Udeo

Favour Udeo

Favour is a writer, who is interested in blockchain, DeFi, and Web3 in general. She finds machine learning and emerging technologies interesting.

Related Posts

source: themoscowtimes.com
Crime

Ukrainian Police Arrest Man for Large-Scale Cryptojacking Scheme

5 June 2025
source: sumsub.com
Crypto

Sumsub Unveils Travel Rule SDK to Ease Crypto Compliance, Slash Drop-Offs by 35%

5 June 2025
source: cryptorank.io
News

Global X launches Bitcoin Covered Call ETF (BCCC)

5 June 2025
source: m.economictimes.com
Crypto

Ethereum Mainnet Surges Back into DeFi Spotlight as Bots and Stablecoins Drive Record Activity

5 June 2025

Featured Posts

The Hidden Dangers of Holding Crypto in Exchanges

The Hidden Dangers of Holding Crypto in Exchanges

byOlajumoke Oyalekeand1 others
27 May 2025
0

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

byFaari Labinjo
27 May 2025
0

The Most Influential Figures in Crypto History and Their Impact

The Most Influential Figures in Crypto History and Their Impact

byBobby Okposin
14 May 2025
0

Are Layer 2 Solutions Enhancing Ethereum—or Killing it?

byOlayinka Sodiqand1 others
6 January 2025
0

Beginner’s Guide To Earning Passive Income In Crypto | DeFi Planet

Simple Ways To Earn Passive Income From Your Crypto

byArjun Chandand1 others
1 September 2021
0

Read More

Chain of Thoughts

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Is Tokenization All That It’s Cracked Up To Be?

Is Tokenization All That It’s Cracked Up To Be?

byOlu Omoyele
26 February 2025
0

...

Markets Update

Your Weekend Crypto Roundup | May 2025 (Week 5)

5 days ago

Your Weekend Crypto Roundup | May 2025 (Week 4)

2 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 3)

3 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 2)

4 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 1)

1 month ago

Your Weekend Crypto Roundup | April 2025 (Week 4)

1 month ago
Read More

Events

Crypto Valley Conference
Crypto Valley Conference
5 Jun 25
Risch-Rotkreuz

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Nibiru Launches ”Block Party” Aura Program to Reward Real DeFi Activity

bychainwire
5 June 2025
0

BYDFi and Ledger Launch Global Campaign with Limited BYDFi x Ledger Nano X

bychainwire
5 June 2025
0

$ZEUS Marking His Territory: Announcing An IP Collaboration with Original Zeus Artist and Trademark Holder

bychainwire
4 June 2025
0

Huma Joins the Global Dollar Network to Advance Stablecoin Adoption on Solana

bychainwire
4 June 2025
0

Zircuit Joins Binance Alpha: ZRC Airdrop & Trading Competition Go Live

bychainwire
3 June 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00