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Now SEC charges LBRY. Next it will come after all the other major cryptocurrencies.

Yesterday, there was [a post](https://old.reddit.com/r/CryptoCurrency/comments/mfcerz/charles_from_cardano_was_right_you_need_ripple_to/) from /u/Lemonmule69, stating that XRP vs. SEC was just the beginning, and we need to drop tribalism within the community.

It’s less than a few hours since his/her/their post, and it’s kind of happening.

Now SEC is going behind LBRY, [accusing the project](https://www.sec.gov/litigation/litreleases/2021/lr25060.htm) of issuing unregistered securities.

Now they will come after all the other cryptos listed in CMC. We need to stop the “team BTC” or “team ETH” attitude and act as a one, single community — crypto community.



View Reddit by iamrahul10View Source

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24 Comments

  1. In the bright side if xrp wins the case the whole crypto world would skyrocket, there will be alot media exposure about xrp winning the case and will attract more people into crypto.

  2. Did anyone think that it would be painless? As long as cryptos are a joke laughed away by industry and the rich, nobody cares. When they become a big enough factor, the establishment will react harshly. And coins like Monero, that are legitimately untraceable, will see the worst clamp down of all. They can’t stop it, but they can sure slam the on/off ramps to fiat shut.

  3. I’m sure Switzerland will be more than happy to give those companies a new home outside US regulations .. over here capital gains on crypto aren’t even looked at as taxable income so welcome to the crypto happy place lol 🤷‍♂️

  4. The US just want to maintain their USD power, that is all they care about, they will attack any other type of currency that would shift the power between them and the world, they will not loose their power so easily, as well they do not want the little guy to be in the 1% or even on the 10% they want to keep control on everything, that is the point of the government, so do not think for a moment they will not try to stop the new money to roll to our hands, so we have to be be strong and just keep holding, keep using cryptos and tell them that this is the future and it is inevitable.

  5. The SEC doing SEC things. How many people didn’t expect this coming? You’re not a good project if you can’t survive legal scrutiny. All of finance is full of laws and regulations that must be navigated cautiously.

  6. Sec will do sec it’s a learning process for them and us . I agree that tribalism does not help crypto in general.

    But precendences must be set somehow in order for crypto to be accepted.

  7. Good. Fuck unregistered securities, charge them! Charge them all! Shut them all down!

    If you want to invest in crypto, do your research, actually figure out which tokens aren’t scams and unregistered securities and invest in those.

    You all seriously need an awakening of why these unregistered securities are doing the opposite of helping the crypto space. They aren’t decentralized, they are tied to garbage projects selling you pipe dreams and the founders are shoveling your money back into fiat to line their own pockets. You should be outraged by them. But instead you act like old ladies clutching your pearls, “oh no they are coming for us all!!” Your simple solution, put your value back into the projects that are safe from these lawsuits (BTC, ETH, LTC, and quite a few others) and be happy crypto exists at all. Most of these other coins are literally taking your money and giving you nothing in return… which is why the SEC now has to step in and protect us from unregistered securities.

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