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SAVE CRYPTO
They’re saying LBC is a security, it’s not!
What’s the big deal?
The SEC is claiming the LBRY token does not have utility and is not purchased for reasons of usage, therefore they believe it should be registered as a security. If LBC were to be classed as a security, this would create a major bureaucratic nightmare for all blockchain companies and people with crypto. it is also likely that many blockchain companies will fold due to being unable to bear the new costs of being in business. This would in turn eliminate the jobs and income of many millions of people and effectively kill the advancement of a critical new technology and industry in the US.
Essentially it would effectively make it very difficult for ourselves and other blockchain companies to distribute rewards to you and for you to exchange them. it is also likely that many blockchain companies will fold due to being unable to bear the new costs of being in business. This would in turn eliminate the jobs and income of many millions of people and effectively kill the advancement of a critical new technology and industry in the US