A US court has ruled that cryptocurrency startup LBRY violated federal securities laws.
Issued by the US Securities and Exchange Commission (SEC), LBRY LBC of tokens in security status claiming that he was selling unregistered securities He filed a lawsuit in March 2021.
The LBRY administration disputed the SEC’s claims, saying that LBC tokens are not securities and that the SEC had not properly informed LBRY.
In a US court, “SEC’s stance that LBRY is launching LBC as a security” It was decided that it could not be rejected.
After the decision taken today, LBRY management shared on Twitter and said, “We lost. We apologize to everyone.” made a statement.