U.S. SEC Commissioner Hester Peirce said in a statement on Friday that the SEC has taken many troubling crypto enforcement actions, but the LBRY case is particularly troubling and disappointing. Hester Peirce does not support the SEC's lawsuit against LBRY, but has not been able to publicly express this view during the LBRY case. Last week, LY announced that it would not appeal the decision after a U.S. District Court ruled against LBRY on the issue of whether its token sale was an unregistered securities offering. LOBY announced that the company would close and its assets would be taken over and used to pay off its debts, including civil penalties paid to the SEC. Peirce said that while the SEC's claim that it is clear that securities laws apply to token projects, this is not the case. She said that there is no clear way for companies like LOMY to register their functional token offerings. Even if a company does successfully register its token offering, this is not completely immune to SEC enforcement actions. Peirce added that compliance is important for investors. （The Block） Previously, on October 20, LBRY, a blockchain-based file sharing network, announced that LBRY Inc. was about to close, and its decentralized code was open source, which will be developed by users at their own discretion. LBRY Inc. has unpayable debts to the SEC, its legal team, and private debtors. Its assets, including Odysee, are in receivership. All LBRY executives, employees and board members have resigned. In March 2021, the SEC filed a lawsuit against LBRY, alleging that it violated securities laws by selling LBC tokens; In November 2022, a U.S. judge ruled in favor of the SEC in the case; In January, the SEC reached a settlement with LBRY, acknowledging that the sale of LBRY's native token, LBC, on the secondary market did not constitute a securities transaction. In addition, the judge stated that its injunction did not apply to secondary market sales; In May, the SEC applied to the court to change the $22 million fine against LBRY to about $110,000.

PANews News on October 20, blockchain-based file sharing network LBRY announced that it is about to close. LBRY networks are not affected. Odysee and other assets will go through legal proceedings to repay debts. LBRY claims it has unpayable debts to the SEC, its legal team and private debtors. Its assets, including Odysee, are under receivership. All LBRY executives, employees and board members have resigned. Previously, in March 2021, the SEC filed a lawsuit against LBRY, alleging that the sale of its LBC tokens violated securities laws; In November 2022, a U.S. judge ruled in favor of the SEC in this case; In May, the SEC applied to the court to change LBRY's $22 million penalty to about $110,000.

Odaily Planet Daily reported that the U.S. Court of Appeals for the First Circuit in Boston has instructed LBRY to submit a brief before November 1, 2023. Prior to this, the US SEC had a long-term legal dispute with LBRY over the nature of its platform. (CoinGape) According to previous news, legal documents shared by former U.S. federal prosecutor James K. Filan on the Appeal to the First Circuit Court of Appeals. In March 2021, the SEC filed a lawsuit against LBRY, accusing it of violating securities laws by selling LBC tokens; in November 2022, a U.S. judge ruled in favor of the SEC in this case; in January this year, the SEC reached a settlement with LBRY, admitting that it violated securities laws at the second level The sale of LBRY native token LBC on the market does not constitute a securities transaction. In addition, the judge stated that his ban did not apply to secondary market sales; in May this year, the SEC applied to the court to change the US$22 million fine against LBRY to approximately US$110,000.

Golden Finance reports that the U.S. Court of Appeals for the First Circuit in Boston has instructed crypto startup LBRY to submit a brief before November 1, 2023. This follows a long-running legal dispute between the U.S. Securities and Exchange Commission (SEC) and LBRY over the nature of its platform. Golden Finance reported on September 8 that according to a legal document, the encryption startup LBRY has issued a notice of its intention to appeal to the U.S. First Circuit Court of Appeals against the SEC’s accusation that it violated securities laws. Last March, the SEC sued LBRY, alleging that it violated federal securities laws by selling its native LBRY Credits (LBC) tokens.

Golden Finance reports that according to a document submitted to the U.S. Court of Appeals for the First Circuit on September 14, Ripple lawyer John Deaton has officially submitted a notice of appearance as an amicus curiae in the LBRY lawsuit. Deaton is known for advocating for the rights of cryptocurrency investors and actively participating in legal proceedings and discussions regarding cryptocurrency regulations and legal proceedings. In March 2021, the U.S. SEC initiated legal proceedings against LBRY, accusing the company of illegally selling LBC tokens without registering with the agency as required by law.

Odaily Planet Daily News According to a legal document shared by former U.S. federal prosecutor James K. Filan on the The case was appealed to the U.S. Court of Appeals for the First Circuit. According to previous news, in March 2021, the SEC filed a lawsuit against LBRY, accusing it of violating securities laws by selling its LBC tokens; in November 2022, a U.S. judge ruled in favor of the SEC in this case; in January this year, the SEC reached a settlement with LBRY. Acknowledging that the sale of LBRY's native token LBC on the secondary market does not constitute a securities transaction. In addition, the judge stated that his ban did not apply to secondary market sales; in May this year, the SEC applied to the court to change the US$22 million fine against LBRY to approximately US$110,000.

PANews reported on September 8 that according to a legal document shared by former U.S. federal prosecutor James K. Filan on the The case alleging violations of securities laws was appealed to the U.S. Court of Appeals for the First Circuit. According to previous news, in March 2021, the SEC filed a lawsuit against LBRY, accusing it of violating securities laws by selling its LBC tokens; in November 2022, a U.S. judge ruled in favor of the SEC in this case; in May this year, the SEC applied to the court to LBRY's $22 million fine was changed to about $110,000.

Jinse Finance reported that XRP lawyer Jeremy Hogan asked the XRP community to pay attention to the latest developments in the LBRY case, because there may be a potential scenario in the Ripple case, which may affect the lawsuit between Ripple and the SEC. It is reported that LBRY has submitted a supplementary brief. In its supplementary brief, LBRY stated that its focus has always been to seek clarity on the use of LBRY tokens (LBC), including clarifying that LBC itself is not a security. However, the SEC has refused to provide such clarity and is now seeking a broad injunction that is neither specific nor definitive.

PBA Launches Avalanche NFT-Based Bowling League Awards The Professional Bowlers Association (PBA) and Bowlero have launched the League Bowler Certification (LBC) Awards, which are NFT-based honors to recognize bowling feats. These digital awards are soulbound tokens and cannot be traded or sold. The PBA and Layer 3 Labs collaborated to launch the initiative, which will be hosted on the Avalanche blockchain.

According to news from PANews on May 15, according to Cointelegraph, the US Securities and Exchange Commission (SEC) has submitted a document to the court on May 12, requesting to amend its $22 million penalty against the blockchain-based file sharing network LBRY. The SEC believes that LBRY has ceased operations and does not have the funds to pay a higher fine, so it wants to reduce the fine to $111,614. Prior to the news in November last year, a U.S. judge ruled that LBRY sold its native LBC tokens in violation of securities laws.

The U.S. Securities and Exchange Commission (SEC) is seeking to amend its $22 million penalty against blockchain-based file-sharing network LBRY, asking the court to impose a $111,614 civil penalty, according to court documents, Foresight News reported. Court documents show that the SEC decided that LBRY had ceased operations and did not have the funds to pay a higher fine, so it lowered the fine. As previously reported, in November 2022, a New Hampshire judge ruled that LBRY violated securities laws by selling its native LBC tokens without registering with the SEC. In December, LBRY said the company may go out of business, and the SEC is expected to pay a fine of about $20 million.

Jinse Finance reported that in a document filed with the District Court of New Hampshire, the US Securities and Exchange Commission asked the court to impose a fine of $111,614 on the grounds that the encryption startup LBRY lacked funds and was on the verge of bankruptcy, instead of seeking the original $2,200. Ten thousand U.S. dollars. It is reported that the US Securities and Exchange Commission first filed a civil lawsuit against LBRY in March 2021, alleging that the company's LBC sales were unregistered securities offerings. Seeking $22 million in damages and asking the court to order LBRY to stop any further LBC sales. The SEC won the case in November 2022, after previous judges also ruled that LBC is a security.