LBRY: The Decentralized Sharing Platform
LBRY is a sharing platform that uses blockchain technology to enable users to publish material and get paid for doing so. People using LBRY’s service can monetize their published material with its built-in payment system. The concept melds together the great technical advantages of both Bitcoin and BitTorrent services for people looking to share content.....
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The court was unmoved by LBRY’s objections that the regulator’s claims were unfounded and it was not given the chance to operate in compliance with SEC requirements. A United States District Court ruled in favor of the Securities and Exchange Commission (SEC) Nov. 7 in its case against blockchain-based file-sharing and payment network LBRY. The court granted the SEC’s request for a summary judgment filed May 5. The SEC sued developer LBRY, Inc. in March 2021 — after the agency had brought similar charges against Ripple — claiming that its LBRY Credit token (LBC) was sold as a security....
On US Independence Day, Blockchain startup LBRY released a beta app and a new accompanying cryptocurrency to help artists retain control over their work. LBRY is a decentralized content-sharing platform geared towards artists, filmmakers, writers, etc. who wish to retain full artistic, and financial, control over their work. This marks the first release of a functional app for the platform, in development for over a year. Mike Vine, LBRY’s technology evangelist, expects the new release to quickly gain adoption. "This is it! We've been building for over a year and now we're going live....
The Securities and Exchange Commission (SEC) has filed a complaint against the blockchain-based file-sharing and payment network called Lbry last week, as the U.S. regulator has accused the company Lbry Inc. of selling unregistered securities. However, the CEO of Lbry denies the project’s native tokens are securities and says the SEC’s logic will put a number of public blockchain projects at risk. US Regulator Accuses Lbry of Selling Unregistered Securities U.S. financial regulators have filed a complaint against another blockchain project as the SEC claims the company Lbry....
Although it was quickly overshadowed by more dramatic events, the LBRY case is a rare instance of a crypto-related unregistered securities complaint going to court. The United States Security Commission (SEC) won its case against blockchain-based file-sharing and payment network LBRY in district court in New Hampshire on Nov. 7 when that court decided to grant an SEC request for summary judgment filed in May. The case garnered lots of commentaries on its own and also in relation to the ongoing Ripple case.LBRY operates a digital content network. The Odysee video-sharing website is its....
LBRY is in the SEC’s firing line for selling unregistered securities. It claims the case could set a precedent that would affect much of the industry. Blockchain company LBRY, Inc. has hit back at the Securities and Exchange Commission, saying a complaint filed against it threatens much of the crypto industry because it would define most tokens as securities. The SEC has been looking into the blockchain-based publishing platform LBRY, Inc. as part of a three-year investigation that started in May 2018.According to the complaint filed by the SEC, the platform is alleged to have sold....