US Securities and Exchange Commission (SEC) Commissioner Hester Pierce criticized the regulator over the LBRY case.

Previously, the LBRY project was forced to suspend its activities due to multimillion-dollar fines from the SEC.

Pierce called the case arbitrary and criticized the agency for regulating the industry through coercion. In her opinion, the SEC did not provide convincing evidence of fraud on the part of LBRY.

She also noted that LBRY would not be able to register with the SEC.

In addition, Pearce added that the time and resources spent on this case could be used to create a workable regulatory framework that projects like LBRY could follow.

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