Crypto Fund Denounces SEC's Testimony In Enforcement Suit

Law360 (November 5, 2018, 7:27 PM EST) -- Cryptocurrency index fund Blockvest LLC on Friday urged a federal court to require the U.S. Securities and Exchange Commission to submit admissible evidence before allowing the agency to block its initial coin offering, saying the SEC's expert witness testimony is not enough.

Blockvest said the agency's bid to block its initial coin offering, or ICO, was based on hearsay and is not supported by actual evidence, and thus the suit, accusing it of it receiving regulatory approval from not only the SEC but also a fictitious agency called the Blockchain Exchange Commission, should be dismissed.

"Much of the 'evidence' submitted by...

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