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The U.S. Securities and Exchange Commission (SEC) is pursuing yet another case of a blockchain company allegedly selling unregistered securities.
According to court documents filed Monday, peer-to-peer content distribution network LBRY is being accused of selling “millions of dollars worth of unregistered securities to investors” beginning in 2016.
The securities regulator is seeking a permanent injunction against LBRY from selling further tokens in addition to a disgorgement of “ill-gotten gains” plus prejudgement interest.
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