ICO Fall Within Securities Law
September 13, 2018
Federal prosecutors in the US have achieved another victory on September 11. The US court decided that ICO functions must comply with regulation standards of securities sector.
New York’s Brooklyn district judge considered a case that charged a US citizen who distributed counterfeit digital currencies.
District judge Raymond Dearie recognized the statement by the complainant that under federal law ICOs also have the status of securities.
The details of the case are unknown so far but it involves entrepreneur Maksim Zaslavskiy, who faced indictment brought by the SEC as the businessman carries out trade with digital currencies that were backed by fake assets.
In November last year Zaslavskiy was detained but he did not plead guilty.