XRP lawsuit news report:The specific conclusions of the United States Securities and Exchange Federation v. Ripple case are expected to help establish strict regulation of the trend of the digital asset market. However, the hearing system of LBRY and SEC is also expected to provide a stage for Ripple and the defendant before the simple ruling of XRP lawsuit.

Will LBRY lead Ripple to beat the SEC?

LBRY v. SEC will hold a hearing system in the US judicial department. Robert Deaton, the friend of the court in XRP litigation, predicted that the new LBRY case would become one of the most important events in the field of data encryption.

However, the American Securities and Exchange Federation received a simple ruling beneficial to LBRY on November 21, 2022. Since then, LBRY litigation has been compared with XRP litigation to seek regulatory approval.

Jeremy Kauffman, CEO of LBRY, filed a lawsuit to the court and mentioned that he had opened a current account with the Federation for nearly five years. During this period, data encryption companies tried to reach a consensus with the American Securities and Exchange Association to prevent all punishment.

In his statement, he stressed that there are many smart people who need to create the data encryption industry chain. However, the SEC has not clearly stipulated this standard. After the end of this lawsuit, the sales market will at least have a certain understanding of this standard.

How does XRP get rid of the security category?

XRP lawyers withdrew Bill Hinman's statement on June 6, 2018, which said that digital assets were originally coding. However, its sales model in the market is a part of the investment, for non-customers, and even for real estate development enterprises from the initiator. It can generally be classified as security.

According to the statement, if the above property is "sold to non-customers as part of the investment" and sold to the initiator, it should be safer. XRP lawyer said that it was very clear that LBC users would acquire LBRY blockchain technology, but these users did not purchase tokens from LBRY blockchain. Because it doesn't meet Hinman's requirements.

Similarly, many XRP holders bought XRP to add XRP ranks. Although many people get their salaries according to BitPay and other dealers according to XRP, some people use XRP as a substitute for currency in circulation.

He added that according to the 2019 digital asset architecture of the SEC, digital assets are unlikely to reach Howell test. However, it may be used immediately for payment under various conditions, or it may change if it is used as a substitute for legal provisions.