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Crypto startup LBRY violated securities laws by selling its native LBC tokens without registering with the U.S. Securities and Exchange Commission (SEC), a New Hampshire judge ruled on Monday.<br />The SEC sued LBRY in March 2021, alleging that LBC tokens were securities and that the startup had violated securities laws by selling them without registering with the agency. LBRY pushed back, claiming that LBC tokens were not securities, and that the SEC did not give it fair notice that its sale of LBC was subject to securities laws, thus violating the company’s right to due process. The LBRY protocol is a blockchain-based file-sharing network.<br />Federal Judge Paul Barbadoro, of the District Court for the District of New Hampshire, ruled Monday that “no reasonable trier of fact could reject the SEC’s contention that LBRY offered LBC as a security, and LBRY does not have a triable defense that it lacked fair notice.”

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【LBRY sold tokens as securities, Federal Judge rules】Crypto startup LBRY violated securities laws by selling its native LBC tokens without registering with the U.S. Securities and Exchange Commission (SEC), a New Hampshire judge ruled on Monday.
The SEC sued LBRY in March 2021, alleging that LBC tokens were securities and that the startup had violated securities laws by selling them without registering with the agency. LBRY pushed back, claiming that LBC tokens were not securities, and that the SEC did not give it fair notice that its sale of LBC was subject to securities laws, thus violating the company’s right to due process. The LBRY protocol is a blockchain-based file-sharing network.
Federal Judge Paul Barbadoro, of the District Court for the District of New Hampshire, ruled Monday that “no reasonable trier of fact could reject the SEC’s contention that LBRY offered LBC as a security, and LBRY does not have a triable defense that it lacked fair notice.”

LBRY sold tokens as securities, Federal Judge rules

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