According to a recent study of the analytical platform Lex Machina, the number of lawsuits in US federal courts related to bitcoin and other crypto-urrencies in the first half of 2018 reached a new record level. This is reported by the International Business Times.
So, if for the whole of 2017 in the United States there were only 15 court cases involving crypto-currencies, and in the first two quarters of this year this figure increased threefold - to 45.
In addition, in the 18 months since Jay Clayton was appointed chairman of the US Securities and Exchange Commission (SEC), the number of securities-related cases has also reached a record level - for the indicated period, there were 2,622, which is 60% figures for the previous analogous period of time.
Securities lawsuits filed over cryptocurrencies or bitcoin have tripled so far this year as SEC chairman Jay Clayton announced a crackdown on that industry. The SEC, which has vowed to scrutinize cryptocurrencies and initial coin offerings, was responsible for 30 percent of the cases filed in 2018, that’s the second-most popular filer of such cases, topped only by the law firm Levi & Korsinsky.
Legal data expert, Lex Machina
Analysts also note that the number of lawsuits in which cryptocurrencies were present coincided with a drop in the price of bitcoin and other digital assets this year. So, if in the fourth quarter of 2017, when bitcoin reached an absolute maximum of $ 20,000, there were only seven such claims, but in the first quarter of 2018 they were three times as large.
Among the most well-known cryptocurrency firms involved in litigation, it is possible to note Ripple, which only last week announced the agreement with the bank blockchain consortium R3 in the case of 5 billion XRP tokens.
Attention was also drawn to litigation, which involved the high-yield investment project Bitconnect.