LBRY Fights Back: Files Appeal Against SEC Ruling
Summary:
Blockchain-based file-sharing and payment network LBRY files an appeal against a court ruling that sided with the SEC, showing a potential reversal of their earlier decision to wind down.
The blockchain-based file-sharing and payment network LBRY has decided to challenge a previous court ruling by filing a notice of appeal against the Securities and Exchange Commission (SEC). On September 7, LBRY filed the appeal to the United States Court of Appeals for the First Circuit, seeking to overturn the final judgment entered on July 11, 2023. The judgment had ordered LBRY to pay a civil penalty and prohibited them from participating in unregistered offerings of crypto asset securities in the future. LBRY had previously indicated that it would wind down following the judgment, but this new appeal suggests a potential change in direction.
Published At
9/8/2023 3:30:45 AM
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