{"id":15927,"date":"2022-05-06T04:58:38","date_gmt":"2022-05-06T04:58:38","guid":{"rendered":"http:\/\/egrowonline.com\/?p=15927"},"modified":"2022-05-06T04:58:38","modified_gmt":"2022-05-06T04:58:38","slug":"blockchain-biz-says-sec-has-overreached-in-token-battle","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=15927","title":{"rendered":"Blockchain Biz Says SEC Has Overreached In Token Battle"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"article-body\" style=\"min-height:275px\">\n<div id=\"teaser\">By Elise Hansen (May 5, 2022,  8:50 PM EDT) &#8212; The U.S. Securities and Exchange Commission is attempting an &#8220;unprecedented overreach&#8221; in claiming that\u00a0blockchain-based publishing platform LBRY&#8217;s cryptocurrency sales were an unregistered securities offering, the company told a\u00a0New Hampshire federal court Thursday.<\/p>\n<p>Each side pushed for a ruling in its favor, with the SEC requesting summary judgment on Wednesday and LBRY filing its motion on Thursday. At issue is LBRY&#8217;s sale of its signature cryptocurrency, LBRY Credits, or LBC. The SEC claims the sales were unregistered securities offerings, while the company says that the asset is a &#8220;utility token&#8221; used to make purchases on its platform.<\/p>\n<p>LBRY bills itself as a&#8230;<\/p>\n<\/div><\/div>\n<div>\n<h3>Stay ahead of the curve<\/h3>\n<p>In the legal profession, information is the key to success. You have to know what\u2019s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.\n\t\t\t\t\t\t<\/p>\n<p><\/p>\n<ul>\n<li>Access to case data within articles (numbers, filings, courts, nature of suit, and more.)<\/li>\n<li>Access to attached documents such as <strong>briefs, petitions, complaints, decisions, motions, etc.<\/strong><\/li>\n<li>Create custom alerts for specific article and case topics and <a target=\"_blank\" href=\"https:\/\/www.law360.com\/about\" title=\"About Law360\" rel=\"noopener\">so much more!<\/a><\/li>\n<\/ul>\n<p class=\"try-free\">TRY LAW360 <strong>FREE<\/strong> FOR SEVEN DAYS<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.law360.com\/media\/articles\/1490452\/blockchain-biz-says-sec-has-overreached-in-token-battle\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Elise Hansen (May 5, 2022, 8:50 PM EDT) &#8212; The U.S. Securities and Exchange Commission is attempting an &#8220;unprecedented overreach&#8221; in claiming that\u00a0blockchain-based publishing platform LBRY&#8217;s cryptocurrency sales were an unregistered securities offering, the company told a\u00a0New Hampshire federal court Thursday. Each side pushed for a ruling in its favor, with the SEC requesting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":639,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[2078,7862,73,7863,605,452],"class_list":["post-15927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-battle","tag-biz","tag-blockchain","tag-overreached","tag-sec","tag-token"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2021\/11\/law360-stacked.png","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15927"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15927\/revisions"}],"predecessor-version":[{"id":15928,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/15927\/revisions\/15928"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/639"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15927"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}