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22 April 2021

US Regulator Accuses Lbry Project of Selling Unregistered Securities, CEO Denies Charges – Regulation Bitcoin News

US Regulator Accuses Lbry Project of Selling Unregistered Securities, CEO Denies Charges – Regulation Bitcoin News


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However, the CEO of Lbry denies the project’s native tokens are securities and says the SEC’s logic will put a number of public blockchain projects at risk.

The SEC has used the Securities Act of 1933 to go after a number of blockchain projects and now it says that LBC tokens are unregistered securities.

Prosecutors from the SEC believe that the company violated securities laws and that it should have registered LBC tokens with the regulator.

The CEO of Lbry Inc., Jeremy Kauffman, does not agree with the SEC’s complaint and highlighted in a recent interview that the company did not hold an initial coin offering (ICO).

What do you think about the SEC charging Lbry with an unregistered securities complaint.

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