RATE Group | Cryptocurrency initial coin offerings are securities, US judge rules
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Cryptocurrency initial coin offerings are securities, US judge rules

12 Sep Cryptocurrency initial coin offerings are securities, US judge rules

Posted at 00:25h in Cryptocurrency News by

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Digital coin sales that have raised billions of pounds from Bitcoin enthusiasts should be treated as securities and be subject to financial laws, a US judge has ruled.

The ruling in a criminal case, the first of its kind, opens up other failed cryptocurrencies to be tried for securities fraud.

Initial coin offerings, known as ICOs, have been used to raise tens of billions of pounds for technology projects, crowdfunding money from investors in online currencies like Bitcoin and Ethereum.

In exchange for Bitcoin or Ethereum, start-ups sell tokens similar to cryptocurrency, which are then supposed to be redeemed for services or early access to a project. The unregulated and “Wild West” investment…

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