https://decrypt.co/24532/class-action-lawsuits-filed-against-7-bitcoin-companies
In brief
Class-action lawsuits have been served against 11 companies in the cryptocurrency ecosystem.
The lawsuits focus on the selling of cryptocurrency tokens, which are claimed to be unregistered securities.
One company has already settled with the SEC over an ICO.
In a coordinated strike against some of the best-known companies in crypto, a US law firm issued a barrage of class-action lawsuits aimed at Binance, Block.one, Bitmex, Tron and several others. The lawsuits allege that the firms bilked investors by selling unlawful securities in the form of digital tokens.
First spotted by the website Offshore Alert, the 11 suits were filed on Friday by the New York “litigation boutique” firm Roche Cyrulnik Freedman. The suits named 42 defendants in more than a dozen countries, including the British Virgin Islands, Canada, Cayman Islands, China, Estonia, Hong Kong, Israel, Japan, Malta, Seychelles, Singapore, South Africa, Switzerland, Taiwan, US, and Vietnam.