Solana Labs Accused By SOL Investor Of Violating Securities Law – Here’s Why
A Solana investor has filed a class action lawsuit against major stakeholders in the Solana network for allegedly benefitting off SOL, the native coin of the blockchain, which, according to the claim, is an unregulated security. The filing was made in California by legal counsels representing a homeowner. Based on the specifics of the complaint, it […]
Related News
Already facing a suit from the U.S. SEC, Ripple is now accused of violating securities laws in Florida. Ripple Labs, a company behind the Ripple payment protocol and XRP-based products, is facing another lawsuit alleging the firm violated securities laws in the United States.According to a Jan. 25 court filing, Florida-based XRP investor Tyler Toomey has filed a civil suit against Ripple Labs and Ripple CEO Brad Garlinghouse. The lawsuit alleges that the defendants failed to comply with Florida securities laws by failing to register with the Florida Office of Financial Regulation.Toomey....
The California Department of Financial Protection and Innovation (DFPI) has cracked down on 11 cryptocurrency companies that are accused of violating California securities laws. Nine of the firms reportedly solicited funds from investors in order to trade cryptocurrencies on the customer’s behalf. One of the accused companies pitched an alleged metaverse software development scheme, and another firm claimed to be a “decentralized finance (defi) platform.” 11 Crypto Firms Targeted by California’s Department of Financial Protection and Innovation....
A Solana investor has filed a class action lawsuit against major stakeholders in the Solana network for allegedly benefitting off SOL, the native coin of the blockchain which, according to the claim, is an unregulated security. The filing was made in California by legal counsels representing a homeowner. Based on the specifics of the complaint, it […]
A bitcoin company based out of Saskatchewan is currently locked in a legal battle with the Financial and Consumers Affairs Authority of Saskatchewan. The defendant, Dominion Bitcoin Mining Company Limited was accused of violating the Securities act has in turn accused the investigator of breaching the company's encrypted website to access confidential information which is later misinterpreted and used as the basis of currency securities hearing. According to reports published by the Regina Leader Post, Dominion Bitcoin Mining Company Ltd. was accused of publicly promoting the sales of....
The US Securities and Exchange Commission (SEC) has filed a lawsuit against an ex-employee of the demised cryptocurrency mining outfit GAW Miners. The Federal Agency has accused Carlos R. Garza of violating a subpoena in relation to their ongoing investigation into GAW Miners and its CEO Josh Garza. The investigation is to know whether the company was engaged in fraud by selling unregistered securities through Hashlet mining products and cryptocurrency PayCoin. SEC is also investigating whether GAW was a Ponzi company, as reported by many of its investors. According to the legal notice....