Join me @ IBOtoolbox for free.
Chuck Reynolds
Member Since: 12/6/2012
  
performance / stats
Country: United States
Likes Received: 1418
Featured Member: 0 times
Associates: 2306
Wall Posts: 1618
Comments Made: 1284
Press Releases: 1591
Videos: 0
Phone: 559-474-4614
Skype:     chuck212
profile visitor stats
TODAY: 54
THIS MONTH: 6609
TOTAL: 343745
are we ibo associates?
recent videos
active associates
Phil Davis    
Last logged on: 10/22/2018


Patricia Reynolds    
Last logged on: 10/22/2018


Sonia Mason    
Last logged on: 10/22/2018


Colin Jooste    
Last logged on: 10/22/2018


mourad marketer    
Last logged on: 10/22/2018


TC Johns     
Last logged on: 10/22/2018


Lawrence Rinke    
Last logged on: 10/22/2018


Richard Steele Jr    
Last logged on: 10/22/2018


Robert Jones    
Last logged on: 10/22/2018


Kevin Farmer    
Last logged on: 10/22/2018


Rex Randell    
Last logged on: 10/22/2018


Kris Karafotas     
Last logged on: 10/22/2018


David Todd     
Last logged on: 10/22/2018


Mike Farris    
Last logged on: 10/22/2018


ALEKSANDAR STANIC    
Last logged on: 10/22/2018


other ibo platforms











Chuck Reynolds   My Press Releases

ICOs are Covered by Securities Laws.?

Published on 9/13/2018
For additional information  Click Here

U.S. Judge Rules That ICOs are Covered by Securities Laws


A U.S. District Judge in Brooklyn has delivered a landmark judgement
 
with far-reaching implications for the initial coin offering (ICO) market. Judge Raymond Dearie of the U.S. District Court Eastern District of New York today ruled that U.S. securities laws cover ICO token sales.The ruling came in a case against a fraudulent ICO promoter Maksim Zaslavskiy, whom prosecutors are looking to bring up on fraud charges for defrauding investors of more than $300,000 from a scam ICO called REcoin.

REcoin ICO Scam

In Sept. 2017, CCN reported that the SEC charged Zaslavskiy and two of his companies with defrauding investors through a number of ICO scams including REcoin. REcoin was marketed to investors as being backed by real estate and diamond assets which in actual fact did not exist. In a pioneering ruling, Judge Dearie refused to dismiss the case against Zaslavskiy, whose lawyers earlier pled for dismissal on the basis that the ICOs in question were currencies and not securities, placing them outside the jurisdiction of the SEC Act.

An excerpt from today’s hearing file reads:

“He [Zaslavskiy] argues that the securities laws are  unconstitutionality vague as applied. The Government, meanwhile, asserts that the investments made in REcoin and Diamond were “investment contracts,” and thus “securities,” […] and that these laws are not unconstitutionally vague.”

Judge Dearie’s ruling on this matter was that an ICO is indeed a security for the purposes of federal criminal law, which is what prosecutors have argued since last year.

To read more on this subject, please click the following link..

https://markethive.com/group/cryptocoin/blog/us-judge-rules-that-icos-are-covered-by-securities-laws

Member Note: To comment on this PR, simply click reply on the owners main post below.
-  Copyright 2016 IBOsocial  -            Part of the IBOtoolbox family of sites.