Judge rules secondary sale of LBC does not classify as security in SEC vs LBRY appeal
On Nov. 7 last year, the court issued a summary judgment in favor of the SEC and classified the initial sale of LBC tokens as investment contracts.
However,
During Monday’s hearing, the SEC asked the judge to clarify the first ruling, looking to prohibit all sales of LBC tokens.
The judge said the previous ruling only applied to the direct sale of the token, not to secondary sales.
Following the news LBC rose 35.9% in the 24 hours to 12:30 a.m. in Hong Kong, to trade at US$0.016.
and
There was one amusing comment suggesting someone start an SEC-chain collating all the info of all cases to show what a racket the commission truly is.
Although there was no ICO, it still isn't clear if some of the original tokens will still be classed as securities: No ICO Is No Excuse, LBRY Ruling Shows — Bad News for Ripple?, followed by LBRY vs. SEC: ‘Secondary Sales Aren’t Securities’ May Be Good News for Ripple.