Bitcoin

<ul><li>First Circuit Court extends LBRY&#39;s deadline, reviving hope in their battle against the SEC&#39;s hefty penalty.</li><li>LBRY&#39;s resilience mirrors a growing trend of crypto companies challenging regulators, with Ripple and Grayscale as recent examples.</li><li>As LBRY fights back, the outcome could set a significant precedent in the evolving world of crypto regulation.</li></ul>A recent development has injected new life into the case in the ongoing legal saga between <a href="https://cryptotale.org/?s&#61;LBRY&#43;" rel="noopener noreferrer nofollow">LBRY</a>, the blockchain-based content platform, and the Securities and Exchange Commission (SEC). According to a defense lawyer on the X platform, James K. Filan, the First Circuit Court of Appeals in Boston has granted LBRY an extended deadline, instructing the platform to submit its brief by November 1, 2023.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ffac61b9cab04da8b9888ca2d7b1dd41.png" />This decision follows a rollercoaster legal battle that has seen the SEC impose a hefty $22 million penalty on LBRY, later reduced to $111,614. LBRY contested the SEC&#39;s allegations from the outset, arguing that the <a href="https://cryptotale.org/xrp-lawyer-addresses-sec-as-disgraceful-regarding-sec-lbry-battle/" rel="noopener noreferrer nofollow">initial penalty</a> was excessive and based on vastly inflated figures.LBRY&#39;s core argument revolved around the notion that the SEC failed to consider the platform&#39;s legitimate operational costs, which were instrumental in their overall financial situation. Facing the specter of a shutdown in December 2022 due to mounting legal pressures, LBRY chose a surprising path forward.Read full article a<a href="https://cryptotale.org/lbrys-legal-battle-takes-a-new-turn-with-extended-deadline/" rel="noopener noreferrer nofollow">t CryptoTale.</a>

LBRY's Legal Battle Takes a New Turn with Extended Deadline

CryptoTale

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