Amanda Tuminelli Speaks with Law360 on the “Very Broad” SEC v. LBRY Decision and the Future of Crypto Regulation
November 11, 2022
Kobre & Kim’s Amanda Tuminelli, who defends institutional clients in the cryptocurrency industry against government investigations and enforcement actions, spoke with Law360 on the recent U.S. Securities and Exchange Commission (SEC) victory over blockchain publisher LBRY in a New Hampshire federal court and what it could mean for the future of cryptocurrency regulation and enforcement, both in the U.S. and beyond.
Tuminelli observed that U.S. District Judge Paul J. Barbadoro's opinion, which established LBRY’s token LBC as a security (and thus under SEC jurisdiction), was the first time a U.S. judge had determined a coin that wasn't distributed through an initial coin offering (ICO) to be a security.
However, Tuminelli went on to critique the opinion, describing it as “very broad” and that it could give the SEC “a lot of fodder to bring even more of these cases.”