LBRY Appeals Against US SEC’s Final Judgment
You can now witness the blockchain-based file-sharing and payment network, LBRY, taking a bold step by filing a notice of appeal against the U.S. Securities and Exchange Commission (SEC). This unexpected move has ignited excitement within the crypto community.
LBRY Takes Legal Action
Recently, LBRY filed an appeal with the U.S. District Court for the District of New Hampshire, challenging the final judgment entered by the court on July 11. The court had ruled in favor of the SEC, stating that LBRY had sold unregistered securities.
After two months of accepting the final judgment, LBRY has decided to fight back against the SEC. LBRY’s owner, Jeremy Kauffman, expressed dissatisfaction with the ruling. However, recent rulings in the Ripple and Grayscale cases have provided a glimmer of hope.
Support from the XRP Community
The announcement of LBRY’s appeal has generated excitement and support from the XRP community. Many believe that LBRY has a strong chance of winning against the SEC. Lawyer Bill Morgan stated, “Everyone is on your side, especially holders of the LBC token. I always said it wasn’t a good judgment.”
Various prominent community members, including pro-XRP attorney John E. Deaton, have also shown their support for LBRY’s appeal. This moment presents an opportunity for the crypto community to unite and challenge the SEC’s actions against the industry.
Hot Take:
LBRY’s decision to appeal against the SEC’s final judgment reflects the growing determination of the crypto community to defend their rights and challenge regulatory actions. This case serves as a reminder that the crypto industry is constantly evolving and adapting to legal challenges. As more companies and individuals stand up against regulatory scrutiny, it highlights the need for clearer guidelines and regulations to foster innovation while protecting investors.
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