Apparently the Securities and Exchange Commission is trying to make crypto illegal to freely transact and exchange. Looks like the US government is looking for any amount of legal precedent, probably in an attempt to set the foundations for a potential attack on even more projects in the future. The blockchain technology has the power to provide us with the tools necessary to fight corruption and intransparency, and the SEC clearly doesn't like that.
The SEC is advancing an aggressive and disastrous new standard that would make almost all blockchain tokens securities.
Source: helplbrysavecrypto.com
They are basically trying to set a new standard, under which almost any token is a security. This could prove to be a nightmare for United States residents and cryptocurrency-oriented businesses operating in the US, causing massive job loss and serving as an obstacle to the further development of the revolutionary technology behind the crypto industry. As a result, the entire blockchain space is at risk.
LBRY is a transparent, decentralized ledger used by tens of millions of people. We are talking about a content sharing and publishing platform that is owned by its users, so my guess is that it's actually freedom of speech they are after. The platform rewards users in LBRY Credits (LBC) for sharing and consuming content, and offers tons of valuable information shared by awesome content creators from all over the world, so it's definitely worth a visit once a day in my opinion.
I have been consuming content on LBRY for quite some time now, and my LBRY earnings are looking healthier than ever. However, this post is not just about the free LBRY Credits (LBC) handed out by the platform, or having another means of generating crypto income from the comfort of your home. Free money is good and free crypto is much better, but this time around it's more about freedom. Crypto is not a crime, and we all have a moral obligation to speak up and let the Securities and Exchange Commission know that enough is enough.
It literally takes just a few minutes to support this cause, and we can do so by signing the petition and spreading the word about it on social media, so as to convince even more people to join the movement. Some would argue that the petition itself doesn't actually achieve anything aside from raising awareness. However, raising awareness can be very useful in itself, and certainly is a first step in the right direction. Today it's LBRY, tomorrow it may be your favourite crypto project, so we must act now.
Now, I do realize that online petitions aren't necessarily going to be very effective, but I believe it's worth the effort considering that it only takes an email account and less than five minutes of your time to show your support. It's not just about LBRY; it's an all-out attack on the fundamentals of crypto and blockchain, and a clear attempt to lay the groundwork for future attacks on more blockchain-based projects.
The blockchain technology has the potential to completely transform the world, offering the tools needed to build credible, decentralized, completely transparent transaction systems, and thus, enabling humanity to overcome the obstacles that have been stalling our development for decades. It's already starting to cause a shift in power from centralized authorities back to the ordinary man, and the powers that be do not appreciate that.
My guess is that the case with LBRY is just the beginning, that's why I believe it is important to show our support by signing the petition and taking things on Twitter and Facebook in order to convince others to join as well. The crypto community must act as one; it's not just about one of the many blockchain-based projects out there. It's more about crypto in general, and the SEC is crossing a line here.
The people in charge already know that crypto is here to stay and reshape the way we perform transactions on a global scale, and they also realize that there's nothing they can do to prevent that. Therefore, they are trying their best to gain complete control of the game before it's too late for them, but it's up to us to say a big NO and ruin their plans.
Let's go for it.
Alright guys, that's it for now. Thank you for taking the time to read those lines.
Just my two cents. This is by no means financial advice. Just sharing my personal views and experiences. Please do not take my word for your investment choices, and always do your own research.
Stay safe and have a good one,
