A Securities and Exchange Commission lawsuit against US-based crypto influencer Ian Balina shows the commission’s broad view of its authority over cryptocurrency fraud, say Barnes & Thornburg attorneys. The SEC asserts Ethereum transactions occurred in the US because of where blockchain validation nodes were clustered, a theory courts may find problematic.
In mid-September, the Securities and Exchange Commission filed a complaint involving digital asset trades executed on the Ethereum blockchain. The suit, brought against US-based crypto influencer Ian Balina, provides yet more proof—if we needed any—that the SEC takes an expansive view of its authority to police crypto fraud.
The basic allegations of the SEC’s complaint differ little from other cases the agency has filed in recent years involving unregistered token offerings and pooled investments. What’s novel about the case is how the SEC chose to allege its jurisdiction over blockchain transactions that are executed across...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...