SEC Hasn't Shown Crypto Tokens Are Securities, Judge Says

Law360 (November 27, 2018, 9:08 PM EST) -- A California federal judge on Tuesday denied the U.S. Securities and Exchange Commission's preliminary injunction bid against a cryptocurrency company accused of planning to fraudulently raise money in an initial coin offering, saying the regulator has failed to definitively show the tokens are securities.

A federal judge found Tuesday that the U.S. Securities and Exchange Commission did not demonstrate that tokens offered ahead of an initial coin offering were subject to securities laws. (Law360) In what could be a significant development for the burgeoning ICO industry, U.S. District Judge Gonzalo P. Curiel found the SEC had not demonstrated that the tokens...

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