By Elise Hansen (April 19, 2021, 5:28 PM EDT) -- Bibox fended off a suit from a cryptocurrency buyer who claimed the digital-asset trading platform sold unregistered securities, with a New York federal court finding the buyer's claims were filed too late.
U.S. District Judge Denise Cote on Friday dismissed the proposed securities class action against Bibox Group Holdings Ltd., two affiliates and three Bibox founders. Investor Alexander Clifford's final transaction involving Bibox's digital token, called Bibox Token or BIX, was roughly 16 months ago — past the deadline to file securities claims — and he can't pursue claims about tokens he personally hadn't bought, Judge Cote found.
The case against...
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