U.S. Securities Law to Cover Crypto, Judge Rules

Judge recognized as lawful the criminal prosecution of US citizen M/ Zaslavsky, who was arrested on charges of deceiving investors and conducting 2 scam ICO
12 September 2018   977

The ICO campaigns fall under the legislation in the field of securities, at least in the criminal aspect. Such a verdict was made on Tuesday, September 11, District Judge Brooklyn Raymond Deary, reports Reuters.

In particular, the judge recognized as lawful the criminal prosecution of US citizen Maxim Zaslavsky, who was arrested last November on charges of deceiving crypto-currency investors and conducting two fraudulent ICOs.

Zaslavsky collected at least $ 300k. He was selling RECOin tokens, which, he said, were secured by real estate, as well as Diamond coins allegedly secured by a real diamond business. Prosecutors, however, disagree with him and stress that the tokens were not released at all.

In March, the lawyers of the accused filed a petition asking them to drop the charges, since the case is connected with currencies, not with securities, and does not fall under the securities law.

However, on Tuesday, September 11, Deary rejected the petition and stressed that the application of the federal law on securities should be "flexible." He noted that the Securities and Exchange Commission (SEC) also considers some cryptocurrencies as securities.

Huobi to Launch Prime Lite IEO Platform

Huobi Prime Lite is a “niche project” with some tokensale differences from Prime platform and the first project on it will be ThunderCore
24 April 2019   80

Huobi will launch an improved initial exchange offer (IEO) platform called Prime Lite.

Representatives of the company note that Huobi Prime is a “niche project”. Listing requirements for this platform are the same as for the main IEO site. However, tokensale on the new platform will have several differences from Huobi Prime:

  1. Shorter listing cycle and more flexible listing schedule
  2. Trading allocations for users are more flexible
  3. To facilitate the development of HT (Huobi Token), all HT exchanged will be burnt

The launch of the new platform is scheduled for May 9th. The first IEO on Prime Lite will be ThunderCore, which develops a blockchain with a bandwidth of more than 1,200 transactions per second. The project plans to raise about $ 500 thousand.