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ARTICLE · 01 JUNE 2022

Securities And Exchange Commission V. LBRY; Is Your Crypto Project Illegal?

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The SEC's suit against LBRY is scheduled for trial in September 2022.

United StatesTechnology
James Gatto
James Gatto
Gabriel Khoury
Gabriel Khoury
Pouneh Almasi
Pouneh Almasi
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While the crypto community is rightfully focused on the Ripple case to see how the SEC will fare in court on enforcements alleging cryptocurrency offerings are a security, a lesser-known case may provide clarity first. The SEC's suit against LBRY is scheduled for trial in September 2022.

LBRY is a protocol that allows anyone to build apps that interact with digital content on the LBRY network. Apps built using this protocol allow creators to upload their work to the LBRY network of hosts, set a price per stream, download, or give it away for free. When a creator publishes something on LBRY, an entry is made on the LBRY blockchain. The securities issue arises from the sale of LBRY credits as detailed below.

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