Swiss-Israeli Crypto Firm Wants Suit Over Tokens Tossed

Law360 (October 14, 2020, 5:04 PM EDT) -- Blockchain software company BProtocol Foundation and its four co-founders on Tuesday told a Manhattan federal judge that New York is the wrong place for them to face claims that their digital tokens are securities that should have been registered with the U.S. Securities and Exchange Commission.

The foundation and co-founders Eyal Hertzog, Yehuda Levi, Guy Benartzi and Galia Benartzi told U.S. District Judge Alvin K. Hellerstein in a dismissal motion that the proposed class action is "based on a man in Wisconsin using an exchange in Singapore to purchase tokens issued by a Swiss entity."

The federal court in the Big...

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