LBRY Loses Crypto Fight With SEC, Says It Will Shut Down (1)

LBRY Inc., a blockchain-based content-sharing platform, has been barred from offering “unregistered crypto asset securities” and must pay the SEC a $111,614 civil penalty, and the company says it will shut down rather than appeal.

Judge Paul J. Barbadoro of the US District Court for the District of New Hampshire issued a final judgment Tuesday in favor of the Securities and Exchange Commission.

The issue of whether digital assets constitute securities is a hot one, with vast implications for cryptocurrency issuers and platforms, but it hasn’t reached a federal appeals court yet.

LBRY says it isn’t biting on an appeal ...