The recent decision by the U.S. Securities and Exchange Commission (SEC) to revise the penalty imposed on LBRY, a crypto startup, has sparked a debate about the agency's approach to classifying cryptocurrencies as securities. The SEC cited LBRY's financial difficulties as the reason for the revision, which has led LBRY to question the SEC's dual narrative regarding its cryptocurrency, LBC. LBRY has also referred to the SEC's Coinbase filing, which sought clarity on how securities laws apply to the market. This situation highlights the need for a comprehensive and clear regulatory framework for cryptocurrencies to strike a balance between protecting investors and fostering innovation.