Following the New Hampshire district court summary judgement against blockchain publishing network LBRY and the pending case against Ripple, the crypto community is concerned that the Securities and Exchange Commission (SEC) wants to kill crypto and is acting with malice.
In its most recent filing, the SEC said that “a penalty equal to LBRY’s total pecuniary gain of $22,151,971 is fair and reasonable under the circumstances.”
XRP community lawyer Jeremy Hogan noted that the SEC wants an injunction against future sales on LBRY. Hogan further explained that the agency “argues the court can’t rule on future sales by Amici because they are too speculative. I think the judge is realizing about now that this was never about protecting anyone.”
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