LBRY News

A new government outlook may bring crypto firms back to the United States after years of regulatory confusion.

Stuart Alderoty thanked Hester Peirce and suggested it might be time to submit an amicus brief.

The SEC commissioner said the regulator’s actions “forced a group of entrepreneurs to abandon what they built,” with LBRY announcing in October it planned to wind down operations.

While celebrating a new court win in Ripple’s legal battle with the SEC, the community mourns the demise of LBRY, which some say was “regulated to oblivion.”

“Thank you to everyone who fought with us for online freedom,” the LBRY team said.

Deaton is known for his active engagements in legal proceedings and discussions surrounding cryptocurrency regulations and legal actions.

Blockchain-based file-sharing and payment network LBRY is planning to pick up the fight against the United States federal regulator again after losing the battle in November last year.

In January, lawyer John Deaton persuaded the Judge in the SEC vs. LBRY case that secondary LBC token sales don’t constitute a securities offering.

The SEC originally wanted LBRY to pay millions of dollars in penalties, but now concedes the defunct firm can’t pay up that amount.

The Chamber of Digital Commerce has accused the SEC of trying to impose securities regulations via the “back door” of an insider trading lawsuit.

The probe is reportedly looking at certain offerings that Kraken has made to its United States customers that could be in breach of securities laws.

LBRY Inc. noted that while the company is on its last legs, the underlying protocol and blockchain behind the content platform will carry on.

After Elon Musk lamented the winding back of Apple’s Twitter advertising, crypto company LBRY replied about its own troubles with Apple and censorship.

Quantum Economics founder Mati Greenspan has sounded the alarm over the damage the SEC’s case against LBRY could do to crypto.

LBRY is in the SEC’s firing line for selling unregistered securities. It claims the case could set a precedent that would affect much of the industry.