LBRY Judgement Has No Bearing On Ripple Vs. SEC – This Is Why
What impact could the LBRY ruling have on the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC)? This is the question that attorney John E Deaton, who has 75,000 XRP investors behind him in his amicus brief, has tried to clarify. As revealed yesterday, the New Hampshire court found that […]
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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’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 […]
Prominent pro-XRP lawyer John Deaton has launched a scathing critique of the US Securities and Exchange Commission (SEC) in light of the regulatory body’s actions against blockchain company LBRY Inc. Deaton, renowned for representing XRP holders in the Ripple-SEC lawsuit, marked the regulatory body’s conduct as an exhibit of overreach. “The LBRY case should be […]
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....
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....