The post LBRY vs. SEC: Kauffman Claims That SEC Is Out To Destroy The Crypto Markets appeared first on Coinpedia Fintech News
In March 2021, the SEC charged LBRY with selling unregistered securities. Now, LBRY CEO Jeremy Kauffman is seen calling out the Securities and Exchange Commission (SEC). The regulator took issue with the $11 million in funding raised through the sale of LBRY Credits. The SEC actually considered LBRY Credits as investment contracts.
Kauffman exclaimed that the company has been “fighting the SEC for coming up on five years.” He said they soon expect a federal judge to weigh in with a ruling on whether a full trial is required. He expressed his frustration saying “The SEC has very much demonstrated that they are out to damage or destroy the cryptocurrency industry in the United States.”
Moreover, Kauffman is stepping into the political realm and if he’s elected this year, his top priority will be bringing more attention to the cryptocurrency scene.