Judge Declares that SEC Rules Apply to Cryptocurrencies

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A Brooklyn federal judge has issued what could become a defining decision for cryptocurrencies, declaring that SEC rules apply to initial bitcoin offerings.

Judge Raymond Dearie’s ruling came as he declined to toss federal charges against accused fraudster Maksim Zaslavskiy, whose lawyers had tried to argue that current laws around crypto are “unconstitutionally vague” and so crypto didn’t fall under federal securities law.

Dearie disagreed, saying a jury would be able to assess alleged crypto theft under existing laws.

Read the original article here: nypost.com

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