US Judge has just ruled in the LBRY case that LBC token is a security. SEC has won and LBRY has lost. This is a dark day for US crypto

District Judge just ruled that the LBC token is a security and not a utility token. LBC was one of the earliest tokens in the market, it was a POW mining token that had utility in the LBRY ecosystem.

In ruling it to not be a utility token but a security, this will threaten every other coin or token. LBRY had intended to grow the value of LBC token by building utility into the LBRY network. However this was judged to be a security offering. If this is the standard, then virtually every other token is also a security.

These are the statements from LBRY's founder:

The SEC vs LBRY case establishes a precedent that threatens the entire US cryptocurrency industry.

Under this standard, almost every cryptocurrency, including Ethereum and Doge, are securities.

The future of crypto now rests with an org worse than the SEC: the US Congress

Link to the court order -

https://odysee.com/@lbry:3f/secvslbrysummaryjudgementruling:a