LBRY fires back at SEC over 'aggressive and disastrous' securities complaint
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....
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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....
The U.S. Securities and Exchange Commission’s (SEC) new target is LBRY, Inc. Like it did with Ripple, the regulator accuses the company of “failing to register a security offering,” according to a document filed in the court district of New Hampshire. According to the complaint filed by the SEC, LBRY has sold “millions” in securities […]
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, Inc., a crypto company behind a P2P digital marketplace powered by a native token, has been in a legal with the U.S. Securities and Exchange Commission (SEC). Similar to payment company Ripple, the regulator accused LBRY of illegal sales of security with the token LBRY Credits (LBC). Related Reading | Ripple Could Beat SEC? […]
The U.S. Securities and Exchange Commission (SEC) has won a court case against the blockchain-powered publishing platform LBRY. According to a New Hampshire district court ruling, Judge Paul Barbadoro agreed with SEC that the project’s native asset LBC was considered an investment contract or a transferable share representing a certificate of interest. On Twitter, LBRY said the language used to sway the court’s decision “sets an extraordinarily dangerous precedent.” U.S. Regulator Wins Judgement Against Decentralized Blockchain Platform LBRY According to court documents, the U.S.....