Hester Peirce, a commissioner at the Securities and Exchange Commission (SEC), has criticized the #SEC 's handling of charges against #cryptocurrency startup #LBRY . She argued that the SEC's claims of applying securities laws to token projects are unfounded, stating that there's currently no viable way for companies like LBRY to register their tokens with the SEC. Even if registration were possible, she believes it would have little practical value. LBRY recently announced its shutdown after years of legal conflict with the SEC, which accused it of selling unregistered securities. Peirce expressed frustration with the SEC's pursuit of the case against LBRY. The judge's ruling didn't explicitly classify LBRY's #token as a security, leaving the future of the LBRY #blockchain uncertain. The SEC initiated the lawsuit against LBRY in 2021, winning the case in November 2022 and ruling that LBRY Credits (LBC) was indeed a security. Initially seeking a $44 million penalty, the SEC later reduced it to $111,614 due to LBRY's financial difficulties.