Federal criminal case could lead to legal ramifications for ICOs
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Federal prosecutors charged Maksim Zaslavskiy with securities fraud for defrauding investors in two ICOs. The judge presiding over the case ruled that securities laws may cover ICOs, but it was ultimately up to the jury to decide whether the ones at issue were securities. While the ruling focuses on Zaslavskiy's ICOs, if upheld on appeal, it could have broader ramifications for the entire market. (Source: Bloomberg)
AUTHOR
Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi
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