SEC Commissioner Releases Statement of Dissent Regarding Regulator's Case Against LBRY

A commissioner from the U.S. Securities and Exchange Commission (SEC) has released a statement dissenting against the agency's enforcement action against the blockchain-based file-sharing payment network LBRY. In a lengthy statement, SEC Commissioner Hester Peirce says that the SEC's action against LBRY is “puzzling” as there wasn't much evidence that the firm committed fraud.

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In the midst of significant changes and challenges in the cryptocurrency realm, Boston's First Circuit Court of Appeals sets the stage for a landmark legal battle between the blockchain-based platform LBRY and the Securities and Exchange Commission (SEC).

The First Circuit Court of Appeals in Boston has instructed LBRY, the blockchain-based content platform, to submit its brief by November 1, 2023. This follows the legal battle between the Securities and Exchange Commission (SEC) and LBRY, culminating in a recent decision against the crypto platform. #XRPCommunity #SECGov v.

Attorney John Deaton, the lawyer who represents the thousands of XRP token holders in the Ripple lawsuit against the U.S. Securities and Exchange Commission (SEC), has filed his notice of appearance on behalf of an Amicus Curiae in the LBRY lawsuit. The US SEC had in March 2021 filed a lawsuit against LBRY, claiming that

The XRP community came in support of blockchain-based file-sharing and payment network LBRY after it filed a notice of appeal against the U.S. Securities and Exchange Commission (SEC). LBRY suddenly decided to appeal against the final judgment in favor of the U.S. SEC in July, sparking excitement in the crypto community.

In a recent court ruling, LBRY (LBC) and its subsidiary Odysee were directed to cease offering unregistered securities in the form of crypto assets. The United States Securities and Exchange Commission (SEC) imposed a penalty of approximately $111,000 on LBRY. However, the decision has sparked a heated debate and raised concerns over regulatory clarity.

A judge declines to issue a ruling on whether secondary sales of LBRY Credits (LBC) are securities, adding to the regulatory uncertainty in the crypto industry. Clearer guidance from regulatory bodies is needed to ensure compliance and foster innovation.

Ripple Lawsuit: LBRY, another crypto firm fighting a legal battle U.S. Securities and Exchange Commission (SEC) in order to gain regulatory clarity filed for the last time in the case. However, attorneys involved in the XRP lawsuit as the third party expect that the recent filing can prove to be critical for Ripple ahead.

The U.S. Securities and Exchange Commission's (SEC) recent decision to revise the penalty on LBRY, a crypto startup, has sparked a contentious debate surrounding the agency's approach to classifying cryptocurrencies as securities.

The U.S. Securities and Exchange Commission (SEC) has reduced a $22 million fine against file-sharing and payments protocol LBRY to just $111,614. LBRY lost a court case with the SEC in November of last year after a federal judge ruled that the company violated securities laws when it raised about $12.

Crypto Market News: In the wake of the U.S. Securities and Exchange Commission's (SEC) decision to revise the penalty on LBRY, the crypto startup commented on the agency's dual narrative around LBR being a security. In recent court filings, the US SEC cited LBRY's “inability to pay” the $22 million penalty as the reason behind