TechFlow news, according to The Block, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against LBRY Inc., a cryptocurrency startup based in New Hampshire, alleging that the company sold unregistered securities through its tokens.
LBRY is a decentralized content publishing platform. According to the company, its native token, known as LBRY Credits, is used as part of the platform for publishing and purchasing content. The SEC's lawsuit claims that LBRY Credits are securities and that the company's sale of these credits constituted an unregistered offering to investors.
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