SEC Sues LBRY🧐

According to the latest information, the SEC filed a lawsuit against another #Blockchain company for allegedly selling unregistered securities.

According to the latest information, the US Securities and Exchange Commission (SEC) filed a lawsuit against another Blockchain company for allegedly selling unregistered securities.

🚨SEC Sues LBRY
According to court documents released Monday, the peer-to-peer content distribution network #LBRY has been accused of selling millions of dollars' worth of unrecorded securities to investors since 2016. The securities regulator is demanding that LBRY repay its unfair gains and be prevented from selling more tokens.

The SEC claims in its statements that the assets considered as securities were sold in the form of LBRY Credits (LBC) sent to investors to finance LBRY's business and build its product.

LBRY is an #open #source #protocol that allows participants to post content without fear of being penalized for their posts. The SEC claims that #LBC tokens are sold as investment contracts in exchange for US dollars and other non-monetary contributions.

↘️LBRY's Answer
LBRY asked for help from the cryptocurrency community in the face of these allegations, claiming that the industry is at risk, stating that LBRY Credits are not securities. “Help us save the cryptos . The future of crypto is at risk in the US. The SEC sues us and says LBC is a security, but it is not! ” He used his words.

🚨SEC and the Crypto Ecosystem
SEC frequently comes up with lawsuits and negative statements against cryptocurrencies and blockchain companies. The lawsuit filed by the SEC against Ripple and the two Ripple executives had a huge impact . However, instead of shaking the entire crypto pare ecosystem as expected, it only damaged Ripple and XRP .

In fact, when the current tables are evaluated, it can be stated that the SEC did not cause the expected damage even to Ripple and XRP.