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TechFlow news — The U.S. Securities and Exchange Commission's (SEC) case against cryptocurrency startup LBRY concluded on Tuesday, with a federal judge once again siding with the SEC and imposing most of the penalties recommended by the regulator. However, the judge declined to determine whether the token at the heart of the lawsuit, LBC, qualifies as a security.
Previously, the SEC's $22 million penalty against crypto startup LBRY was reduced to $111,000.
The U.S. Securities and Exchange Commission's (SEC) case against cryptocurrency startup LBRY concluded on Tuesday, with a federal judge once again siding with the SEC and imposing most of the penalties recommended by the regulator. However, the judge declined to rule on whether the LBC token at the heart of the lawsuit is a security. Earlier, the SEC's $22 million penalty against crypto startup LBRY was reduced to $111,000.
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