RATE Group | Cryptocurrency-related lawsuits are mooning, up 300% from last year
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Cryptocurrency-related lawsuits are mooning, up 300% from last year

21 Nov Cryptocurrency-related lawsuits are mooning, up 300% from last year

Posted at 12:13h in Cryptocurrency News by

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Here’s an extraordinary fact about the 2018 bear market: business for Bitcoin-lawyers is booming.

Forty-five lawsuits involving cryptocurrency were filed in the first half of this year, reports blockchain research unit Diar.

That’s triple the amount of all the lawsuits filed last year. This is not the moon we were looking for.

Diar emphasizes the US Securities and Exchange Commission (SEC) as a primary contributor to this trend. It notes the SEC is responsible for 30 percent of the cases filed, and recent moves have indicated there are to be loads more.

Last week, it revealed a veritable hard-on for cryptocurrency startups that fail to register their tokens as securities with the SEC.

Paragon and Airfox, who respectively raised $12 and $15 million after launching initial coin offerings (ICO) last year, were ordered to return all funds to investors, register their tokens as securities, and pay $250,000 in…

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