U.S. judge rules blockchain-based file-sharing network LBRY violated securities laws

A judge in the U.S. state of New Hampshire has ruled that blockchain-based file-sharing network LBRY violated securities laws by selling its native LBC token without registering with the U.S. Securities and Exchange Commission (SEC). The ruling means LBRY's related case will not go to trial, with a status hearing to determine the next steps in the case scheduled for Nov. 21. Foresight News noted that the US SEC sued LBRY in March 2021, alleging that LBC tokens are securities, and that the company sold them without registering with the agency, violating securities laws, and then LBRY rebutted that LBC tokens are not securities .