Digital Token Seller Can't Slip Securities Fraud Charges

Law360, New York (September 11, 2018, 2:59 PM EDT) -- A Brooklyn federal judge on Tuesday rejected an alleged fraudster's argument that he couldn't be charged with securities fraud because the digital tokens he sold were not securities, saying only a jury can resolve that question and clearing the way for prosecutors to press forward to trial.

U.S. District Judge Raymond Dearie said the indictment of Maksim Zaslavskiy on charges that he conned more than 1,000 investors in two initial coin offerings was clear and not so vague as to be unconstitutional. He said it was too early to determine whether the tokens Zaslavskiy sold, known as REcoin and Diamond, are...

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