Cryptocurrency 'Nano' Is Not A Security, Developers Say

Law360 (April 1, 2019, 9:43 PM EDT) -- The developers of the cryptocurrency Nano say that unlike the digital “tokens” being targeted in investor suits over the past year, their digital currency is not a security and the latest securities suit against them should be dismissed.

The Nano creators are reiterating a stance they took last fall in fending off a since-dismissed investor suit alleging that they steered coin buyers toward an Italian exchange that lost some $170 million worth of Nano to hackers.

A second suit over the hack, filed by investor James Fabian, fares no better than the first, the developers said Friday, because Nano is not an...

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