Mati Greenspan Expresses Fears Over SEC’s Lawsuit Against LBRY And Its Impact On Crypto

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Mati Greenspan, who happens to be Quantum Economics founder, has sent out a warning to the SERC on its recent action. The official has expressed his disagreement with the body’s latest move, which he believes undermines the LBRY, a decentralized content platform. Greenspan has warned that the move could turn out to be a major setback in the future of the various cryptocurrencies.

Greenspan casts the blame on SEC

In March, the SEC filed a complaint outlining that LBRY had gotten out of line when it decided to offer and sell its unregistered securities through the LBRY Credit tokens. The body alleged that LBRY had been undertaking the exercise from 2016 to the present moment and that the deal involved millions worth of unregistered securities.

The company has expressed dissatisfaction with SEC’s allegations, questioning its tokens’ description. SEC termed the company’s tokens as utility-focused and not standing chances of speculation.

A new newsletter titled “Don’t let them kill crypto,” turns out to be a matter of great discussion among crypto-enthusiasts. Greenspan speaks out through the newsletter, criticizing SEC’s move and citing it as a great danger to the crypto segment. The official expresses fears that the success of the lawsuit against the company could result in what he terms “dramatic consequences.”

Cryptocurrencies face immense danger

Greenspan says he mentioned both Ether and Bitcoin, outlining that all cryptocurrencies would suffer the consequences of the judgement if the body wins. The leader believes that cryptocurrencies’ future needs to be protected by all means possible, casting blame on the SEC for its insensitivity. Greenspan believes that the move to put the future of cryptocurrencies in question was the last thing the SEC should have considered in the fast-moving business world.

The official discloses how the U.S has been posing a jilted attitude towards crypto regulation, warning that such has consequences. Greenspan outlines that the United State’s laid-back attitude could result in an undesirable precedent. The leader forecasts that the world could get to the point where “multifaceted programmable money” is classified as securities.

Greenspan admits that it was a crime for the platform to set up in the United States but still casts blame on the country for its innovative approach.

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