The SEC filed suit in 2022 alleging the blockchain-based file-sharing network had violated federal securities laws with the sale of its native LBRY credits (LBC), which the firm maintained were not securities. A New Hampshire judge ruled in favor of the SEC in November and the final ruling was filed on July 11. Following the ruling, LBRY said it would shut down.
Crypto Firm LBRY Intends to Appeal SEC Lawsuit Ruling Alleging It Violated U.S. Securities Laws
