Blockchain Firm Files Notice of Appeal Against SEC

Blockchain-based file-sharing and payment network LBRY seems to be reversing its previous decision to wind down operations, opting instead to contest a federal judge’s ruling from July that favored the Securities and Exchange Commission.

On September 7, LBRY submitted a notice of appeal to the United States Court of Appeals for the First Circuit, aiming to challenge the final judgment issued on July 11. This ruling required LBRY to pay a civil penalty and prohibited the company from engaging in unregistered offerings of crypto asset securities in the future.