Breaking News. Court in Florida deems ICO tokens are securities.

From my lawyer friend who’s been dealing with a ton of ICO lawsuits. SHe’s conservative about judges, so take her comments with a grain of salt.

“Figured you’d be interested in this.  It was issued by a Magistrate Judge and the defendants have objected to the report and recommendation, so it is not a final order by the District Judge yet and could be modified.  (Magistrate Judges are below District Judges in terms of hierarchy at the federal court level.)  But given that the SEC also has a case against these same defendants (as does the DOJ), I’m guessing the decision that the tokens were securities won’t be overruled.  The analysis that the tokens are securities starts on page 9 of the decision.”

Decision in link below.


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