A remarkable decision was made in the “insider trading” case of the brother of former Coinbase (COIN) product manager Ishan Wahi.
Former executive of Coinbase Ishan Wahilast year “insider tradingHe was found guilty on the grounds that he did this and 1 million dollars of ill-gotten gain on the grounds that it provides 10 months imprisonment He was sentenced.
Wahi’s friend in the case Sameer Ramani He was found guilty of aiding and abetting. Ramani, for whom a default decision was made He is thought to have fled the country.
On Friday, a US court ruled that, as part of deciding that case, companies such as stock marketsCryptocurrency buying and selling transactions carried out in secondary markets are within the scope of securities sales. stated:
Each issuer continued to make such a statement regarding the profitability of its tokens even while the tokens were traded on secondary markets. Therefore, per Howey, all of the crypto assets Ramani purchased and traded were investment contracts. Ramani appears to have fled the country to avoid criminal prosecution for the alleged actions in this case.