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In the last few days, a lot of reports are coming out about charges against ICO’s. Today, this news came out:
U.S. securities law can be used to prosecute fraud cases over cryptocurrency offerings, a New York federal judge ruled on Tuesday in what appeared to be the first court decision to address the issue. The ruling from U.S. District Judge Raymond Dearie in Brooklyn allows federal prosecutors to pursue their case against Maksim Zaslavskiy. The Brooklyn resident was arrested in November on charges that he defrauded investors in two cryptocurrencies, violating the federal Securities Exchange Act.
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US financial market watchdog Securities and Exchange Commission (SEC) has again rejected several applications for a Bitcoin ETF in the United States. Why do they keep rejecting the applications and what are the possible effects on the market?