SEC Is ‘Out to Damage or Destroy’ Crypto Industry in America: LBRY CEO
LBRY CEO Jeremy Kauffman called out the Securities and Exchange Commission at Messari’s Mainnet conference in New York this week, as the decentralized file-sharing network continues to navigate legal action from the regulator. The SEC charged LBRY with selling unregistered securities in March of last year.
The Commission took issue with the $11 million in funding raised through the sale of LBRY Credits, tokens that are now used to upload files and make payments on the blockchain-based platform but were offered for sale before the network was built. Kauffman said the company has been “fighting the SEC for coming up on five years" and soon expects a federal judge to weigh in with a ruling on whether a full trial is necessary.
Source
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