In Westlaw Today, Attorneys Examine Implications of SEC’s Victory in SEC v. LBRY Case for Crypto and Digital Asset Markets
In a Westlaw Today article, attorneys analyzed the implications of the Securities and Exchange Commission's successful enforcement action against LBRY Inc., which offered digital tokens for use on the company's video-sharing platform.
The authors note it will take time to assess the full impact of the SEC v. LBRY decision, which follows on the heels of the Audet v. Fraser post-trial ruling overturning a jury's verdict that a digital asset was not a security and which comes ahead of the much-anticipated summary judgment decision in the SEC v. Ripple case. The LBRY decision, however, is an important data point to consider as industry participants look to gain clarity on the intersection of digital assets and U.S. securities laws.
The article was authored by litigation & enforcement partners Helen Gugel and Amy Jane Longo, litigation & enforcement counsel Mark Cianci and real estate investments & transactions associate Justin Kaufman.