One of the largest blockchain ecosystems witheris facing a lawsuit in California Federal Court for allegedly illegally making profits with its native token SOL.
In the lawsuit, Mark Young of Solana Labs; Anatoly Yakovenko, co-founder of the Foundation; People including Multicoin Capital Management and its co-founder Kyle Samani and FalconX are allegedly violating federal securities laws.
A class action lawsuit was filed in a district court in California. The defendants’ deportation of Solana without any registration statement. securities It was alleged that they were selling and promoting so-called unregistered securities.
These allegations of violations of the law have come to the fore with different names before.
Roche Freedman and Schneider Wallace Cottrell Konecky, who serve in the field of law, filed the lawsuit on behalf of Young on July 1. Young stated that he felt compelled to sue, claiming that he had suffered damage.
Solana Charged With Securities!
case fileThe allegations in the article have a statement that the defendants have a centralized cryptocurrency that they exploit at the expense of retail investors’ capital. None of the defendants has yet made a statement in response to the lawsuit.
“Buyers who have purchased Solana securities have invested money or rendered valuable services in Solana, a joint venture. These buyers, sponsors, Solana Labs and the Solana Foundation have a reasonable expectation of profit based on their efforts to build a blockchain network that will rival Bitcoin and Ethereum and become the accepted framework for transactions on the blockchain.”
Filed lawsuit local token LEFTIt has yet to affect the price of .
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.