The Securities and Exchange Commission (SEC) of the United States admitted on record that the sale of LBRY tokens in the secondary market does not constitute a security. The agreement was reached on Jan. 30 during an appeal hearing in the LBRY vs. SEC case. Attorney John Deaton settled a major debate during the appeal hearing, which many saw as a victory for the entire crypto industry against the SEC’s overreach regulation by enforcement. During the Nov. 7 hearing, the SEC was granted summary judgement in its favour. The SEC had hoped to seek affirmation on an ambiguous injunction after winning the hearing in November of last year, but the judges made it clear that the judgement only applied to direct sales.