Odaily Planet Daily News 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 had 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.
