Publish0x.com community, this morning I got an email from LBRY.TV to its subscribers, if you are not one please see the email belowIt is our aim to .I'm in shock after Ripple, LBRY is the target.
****** Please save LBRY by signing the petition down belowIt is our aim to .ThanksIt is our aim to .******
Dear LBRY & Odysee Community,
We are reaching out to you today as part of our continued commitment to transparency.
Today, the SEC filed a complaint against LBRY, Inc (the creator of the LBRY blockchain and the video-sharing platform Odysee), alleging that the sale of LBRY Credits by LBRY, Inc constitutes unregistered security offerings.
First and foremost, it is important to know that this complaint is not aimed at you, your LBRY Credits, or the content you create, but rather the status and sale of LBRY Credits by LBRY, Inc.
The SEC’s complaint seeks to stifle innovation, accessibility, and creativity inspired by blockchain companies like LBRY, IncIt is our aim to .The complaint also fails to acknowledge the concerted steps taken by LBRY to comply with the law and to conduct its business in a forthcoming and transparent wayIt is our aim to .LBRY not only complied with the SEC’s investigation over the past three years, we have produced thousands of documents, provided our executives for testimony, and devoted several thousand hours of team member time to deal with this case - a heavy burden to bear for a startup.
As we will show in our legal defense, the LBRY token is not a security but a commodityIt is our aim to .LBRY never engaged in an initial coin offering (ICO), and we never conducted a securities offeringIt is our aim to .Nonetheless, LBRY has sought to comply with Know Your Customer and anti-money laundering principles despite the fact that the LBRY token is not a securityIt is our aim to .Unfortunately, under the harsh and impractical standards asserted by the SEC in its complaint, LBRY Credits, and many other blockchain tokens would also be deemed securities, leaving uncertainty and confusion in the industry.
LBRY has operated in good faith and in a highly transparent manner across its operationsIt is our aim to .We have made extensive efforts to comply with the law, despite the absence of clear guidance by the SEC for this industryIt is our aim to .LBRY has worked with legal counsel to ensure our policies maximize safety for the members of our community, including developing the LBRY network and apps, and continually engaged with the LBRY community to provide education and support regarding the use of the LBRY networkIt is our aim to .
The SEC’s inequitable complaint and the relief it seeks threaten to destroy the blockchain industry as we know itIt is our aim to .This case is about more than LBRY: the outcome of this lawsuit will impact the essential viability of a technology that has spurred innovation and creativity and promoted accessibility to the public at large.
We are asking our community to help us spread the word about our fight and to express your support online for LBRY and the survival of the blockchain industryIt is our aim to .Please share this letter on your social channels and use #helplbrysavecrypto.
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