In a blow to token issuance models and the overall crypto industry, the SEC has won another case where it has considered a token to be a security.
On Nov. 7, a New Hampshire district court ruled against the decentralized publishing platform LBRY.
LBRY is a decentralized video-sharing platform that enables viewers to earn for watching. Furthermore, creators can earn LBC tokens on its Odysee platform.
A Dangerous Precedent from SEC
The LBRY team apologized to its users and investors with a stark warning about the ruling:
“The language used here sets an extraordinarily dangerous precedent that makes every cryptocurrency in the US a security, including Ethereum.”
The SEC took action against the project in May 2021, accusing it of selling the LBC token as an unregistered security. It is very similar to the ongoing case and accusations made against Ripple.
According to the regulator, LBRY raised $11 million in crypto and cash from investors between 2016 and 2021. It found that this was c
We współpracy z: https://cryptopotato.com/sec-wins-case-against-lbry-what-does-it-mean-for-ripple/
