Judge Mulls Whether Initial Coin Offerings Are Securities
By Dunstan Prial (May 8, 2018, 8:19 PM EDT) -- A Brooklyn federal judge on Tuesday heard two starkly different takes on whether digital tokens issued in an allegedly fraudulent initial coin offering were securities subject to regulation by the U.S. Securities and Exchange Commission, the first time the contentious argument has been put before a federal court.
Maksim Zaslavskiy, who was indicted by the U.S. Department of Justice for allegedly making fraudulent statements to lure in ICO investors and faces a parallel SEC civil suit, is seeking to have the case dismissed on the grounds the indictment was based on the government's erroneous contention that his coins are securities. A...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!