James K.Filan Provident Ripple SEC James K.Filan

LBRY vs. SEC to face the same fate as Ripple vs. SEC? Answer can alarm you

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ambcrypto.com

The SEC vs. Ripple case continues to create headlines within the crypto community. But a lesser-known case may provide clarity for the former.In 2021, the SEC filed a complaint against LBRY, Inc. (a blockchain-based file-sharing and payment network) where the SEC alleged that LBRY violated the Securities Act of 1933.

The ‘accused’ offered unregistered securities (LBC) when it sold ‘LBRY Credits’ to numerous investors.Indeed, the said lawsuit had similar touch points to the ongoing Ripple SEC lawsuit.

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